Oil Rises First Time in Three Days on European Deal Optimism
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Crude oil rose for the first time in three days on hopes that European leaders will reach a deal to contain the region’s debt crisis.
Futures gained 1.6 percent as European finance ministers met in Brussels today to lay the groundwork for an Oct. 23 gathering of government leaders on a solution to the debt crisis. Oil also rose after McDonald’s Corp. and Honeywell International Inc. reported profits that beat analyst estimates.