Oil Increases for Third Day as U.S. Consumer Confidence Gains
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Oil rose for a third day in New York after U.S. consumer confidence climbed by the most in more than eight years and Iranian protesters broke into and vandalized the British Embassy’s compound in Tehran.
Futures increased 1.6 percent as the Conference Board’s index advanced to 56 in November from 40.9 in October, the biggest monthly gain since April 2003. The embassy attack came a week after the U.S. and U.K. imposed more sanctions on Iran, OPEC’s second-largest oil producer, over its nuclear program.