Crude Oil Advances on Lower Jobless Claims, Increase in Equities

Crude oil advanced as declining U.S. jobless claims sent equities higher, adding to optimism that U.S. economy is strengthening.

Futures climbed 3.4 percent after the Labor Department reported that applications for jobless benefits decreased 7,000 to 395,000 last week, the fewest since early April. Equities in the U.S. and Europe rebounded on the employment data. Crude slipped 2.2 percent earlier on concern that France’s creditworthiness was in doubt.