Crude Oil Rises to 25-Month High in New York as Dollar Tumbles
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Crude oil rose to the highest level in 25 months as the dollar tumbled, boosting the appeal of commodities as an alternative investment.
Oil jumped 1.4 percent as the Dollar Index dropped to the lowest level since Nov. 23 after U.S. employers added fewer jobs than forecast in November. The unemployment rate unexpectedly increased. Futures for delivery from 2013 through 2018 fell below the current month’s price.