WTI Rises to 14-Month High on U.S. Jobs Gain, Egypt

West Texas Intermediate crude rose to a 14-month high after the U.S. reported adding more jobs than forecast in June, boosting economic optimism, and on concern that unrest in Egypt will escalate.

Futures capped the biggest weekly gain in more than two years as the Labor Department said payrolls advanced by 195,000 workers, exceeding the 165,000 forecast in a Bloomberg survey. Egyptian security forces clashed with supporters of deposed President Mohamed Mursi in Cairo as protests broke out following his ouster by the army. Brent oil in London increased more than WTI on a report that North Sea exports will fall next month.