Crude Oil Rises a Third Day on Signs Fuel Demand May Increase
This article is for subscribers only.
Oil rose for a third day in New York as signs of an improving economy in the U.S., the world’s biggest crude-consuming nation, stoked speculation demand for fuel may increase.
Futures for June delivery climbed as much as 0.9 percent, extending yesterday’s 2.9 percent gain, as Asia’s equities benchmark advanced to a six week high after Apple Inc.’s profit beat projections. Prices also gained after the Energy Department reported an unexpected drop in U.S. crude supplies.