Crude Oil Advances Most in Two Months as U.S. Dollar Declines
- Commodities, equities increase amid weaker U.S. currency
- Russia says oil prices may remain subdued for another 15 years
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Oil climbed the most in two months, paring a weekly decline as a weaker dollar bolstered the appeal of commodities to investors.
Futures rose 3.8 percent in New York as a gauge of the dollar fell for a third day. Global stocks rebounded from a four-week low amid speculation the U.K. is less likely to vote to exit the European Union. Low crude prices may persist for 10 to 15 years, Russian Oil Minister Alexander Novak said in a Bloomberg TV interview.