WTI Rises for First Time in Three Days on U.S. Weather
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West Texas Intermediate prices increased for the first time in three days as an Arctic front sweeps the U.S., the world’s biggest oil consumer.
Futures increased by as much as 0.7 percent in New York after two days of declines. It will feel as cold as minus 30 degrees Fahrenheit (minus 34 Celsius) in some locations across the northern Plains and Northeast, the National Weather Service said in a bulletin at 3:16 a.m. eastern time. U.S. inventories of distillate, including heating oil and diesel, probably decreased for a third week as freezing weather boosted fuel demand, a Bloomberg survey showed.