Oil Rises, Follows Heating Oil, on Report of Gain in Fuel Demand

Oil rose for the second time this week, following heating oil, after the American Petroleum Institute reported that fuel consumption increased in April as economic growth bolstered demand for diesel by truckers.

Oil gained 1.1 percent as the API reported total deliveries of petroleum products, a measure of demand, climbed 5.2 percent last month from a year earlier. Heating oil, a distillate fuel like diesel and jet fuel, jumped 0.8 percent on the Nymex. Refineries such as Valero Energy Corp.’s St. Charles refinery in Norco, Louisiana, are restarting after planned work.