Oil Rises for First Time in Three Days on Jobless Claims

Oil gained for the first time in three days as claims for U.S. unemployment benefits dropped to a four-year low and equities pared losses, raising hopes that demand will grow in the world’s leading user of crude.

Futures rose 1.8 percent, completing the first weekly gain since March 9, after the Labor Department said jobless claims fell 6,000 to 357,000 in the week ended March 31 and the Standard & Poor’s 500 Index rebounded from a 0.4 percent decline. Trading is closed tomorrow for Good Friday.