Oil Rebounds From One-Week Low on Outlook for U.S. Demand

Oil rose and gasoline climbed to a 10-month high on speculation that fuel demand will increase with the economic rebound in the U.S., the world’s biggest crude-consuming country.

Futures in New York advanced 1.9 percent after U.S. industrial output increased for a 10th month as January’s production was revised to a gain. Consumer prices excluding food and energy climbed a smaller-than-forecast 0.1 percent last month, giving the Federal Reserve less reason to boost borrowing costs anytime soon to curb inflation.