Crude Rises Amid Speculation Over U.S. Shale-Oil Supply Growth

Brent rose for the first time in six days amid speculation about the price level that will force some producers to curb investment and limit future supply growth. West Texas Intermediate advanced in New York.

Brent futures rose as much as 1.1 percent in London, reversing an earlier loss of 1.4 percent. U.S. shale oil production will continue to grow, according to Citigroup Inc., while consultant Energy Aspects said the expansion may slow next year. Price competition intensified in the Organization of Petroleum Exporting Countries after Iraq, the group’s second-largest producer, reduced its Basrah Light crude price for January to the lowest in at least 11 years.