Oil Caps Weekly Gain on German Business Confidence
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Oil capped the biggest weekly gain in more than a month as German business confidence unexpectedly rose in November, a signal Europe’s largest economy may expand.
Futures jumped 1 percent and the euro and equities rallied after the Munich-based Ifo institute’s business climate index climbed from the lowest level in two and a half years in October. Israeli troops fired on Palestinians near the Gaza Strip border, spurring accusations from both Israel and Hamas that a truce was breached.