Oil Rises From One-Week Low on Economic Recovery Signs
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West Texas Intermediate rose from its lowest closing level in a week in New York. Crude inventories probably increased for a third week, a Bloomberg survey showed.
Futures advanced as much as 0.9 percent after their biggest loss in two months yesterday. U.S. crude stockpiles probably increased for a third week, according to a Bloomberg News survey before Energy Information Administration data tomorrow. WTI’s discount to the European benchmark, Brent, is at its widest this year. The euro strengthened as much as 0.4 percent to $1.3569 against the greenback, making dollar-priced commodities cheaper.