Oil Completes Longest Run of Weekly Gains Since 2004
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Oil capped the longest stretch of weekly advances in more than eight years after reports showed that U.S. hiring and manufacturing expanded last month.
Futures climbed 0.3 percent after the Labor Department said payrolls rose 157,000 in January and the Institute for Supply Management’s U.S. factory index reached a nine-month high. The Dow Jones Industrial Average gained 1 percent. Brent oil’s premium to crude traded in New York widened because of limits on a pipeline linking the Midwest to the Gulf Coast.