Oil Caps Biggest Quartely Gain This Year
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Oil capped the biggest quarterly increase this year on concern that escalating Middle East tension will disrupt supplies and as gasoline surged to a five-month high.
Crude gained 0.4 percent as the White House said President Barack Obama and Israeli Prime Minister Benjamin Netanyahu are in “full agreement” on preventing Iran from getting a nuclear weapon. Gasoline rose on worries supplies are tightening. Prices rebounded after falling more than $10 to $89.98 on Sept. 26 from an intraday high above $100 on Sept. 14.