U.S. Oil Posts First Weekly Gain in Five on Weak Dollar
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U.S. oil futures rebounded as a gauge of the dollar headed for the steepest weekly slide since 2011, boosting crude’s investment appeal.
West Texas Intermediate crude gained the most in five weeks. The Bloomberg Dollar Spot Index slid as the Federal Reserve damped the outlook for higher rates. Iranian envoys were set to leave nuclear negotiations in Switzerland after final consultations with U.S. Secretary of State John Kerry, with talks to resume next week.