Oil Climbs Most in Three Months Amid Equity Gains, Weaker Dollar
- U.S. crude stockpiles seen falling 3 million barrels in survey
- Shell says Trans Niger oil pipeline halted following leak
Oil Outlook: Where Are Oil Prices Heading?
This article is for subscribers only.
Oil surged the most in three months as global equities erased losses sparked by the U.K.’s secession vote and a weaker dollar bolstered the appeal of commodities.
Futures climbed 4.6 percent in New York. The dollar fell against most of its peers, while stocks rose on the prospect of stimulus in major economies. U.S. crude supplies probably slipped 3 million barrels last week, according to a Bloomberg survey before government data Wednesday. Royal Dutch Shell Plc said the Trans Niger pipeline in Nigeria, capable of shipping 180,000 barrels a day, was halted after the discovery of a leak.