Oil Rises on Increasing U.S. Consumer Sentiment, European Accord
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Oil climbed the most in more than a week after a report showed that confidence among U.S. consumers rose to a six-month high and as European leaders agreed to boost the region’s rescue fund and tighten budget rules.
Futures gained 1.1 percent after Thomson Reuters/University of Michigan preliminary index of consumer sentiment increased to 67.7 in December from 64.1 at the end of last month. European countries announced steps to ease the area’s debt crisis without forging an accord among all European Union members.