Oil Caps Biggest Weekly Increase in Two Months on U.S. Economy

Oil in New York rose, capping its biggest weekly gain in two months, as U.S. economic reports signaled that growth in the world’s biggest crude-consuming country will accelerate.

Futures gained 6.6 percent this week, the biggest gain since Oct. 28, as durable goods rose in November by the most in four months. Initial jobless claims fell to the lowest level since April 2008 and leading indicators advanced more than forecast last month, data showed yesterday.