Crude Oil Rises as Japan Reconstruction May Bolster Fuel Demand
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Crude rose on speculation Japanese rebuilding efforts will bolster fuel consumption and as unrest spread in the Middle East and North Africa.
Oil climbed 1.6 percent as Japan considered setting up a reconstruction agency to oversee repairs from the March 11 earthquake and data showed the central bank pumped record liquidity into lenders. Prices have advanced 14 percent this year as turmoil that drove longtime rulers from power in Tunisia and Egypt spread to Libya, Yemen, Bahrain and Syria.