Oil Rises as Jobless Claims in U.S. Fall
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Oil advanced after the fewest number of Americans in four years filed first-time applications for unemployment benefits and on concern that tension between Syria and Turkey will disrupt shipments from the Middle East.
Futures rose 0.9 percent as the Labor Department reported that claims for jobless benefits fell to 339,000 last week, the lowest level since February 2008. Turkey seized cargo on a Syrian passenger plane forced to land yesterday. Price gains eased after the government said that U.S. supplies climbed last week as output rose to a 17-year high.