Oil Gains for Second Day on Keystone Pipe, Consumer Confidence
This article is for subscribers only.
Oil rose for a second day in New York, trimming the biggest monthly decline in a year, after a pump-station leak forced the shutdown of the Keystone pipeline that carries crude to the largest U.S. storage hub.
Futures climbed as much as 0.9 percent as TransCanada Corp. closed the link that runs from Alberta to Cushing, Oklahoma, where New York-traded oil is stored. Prices also gained on speculation consumer confidence in the U.S., the world’s biggest crude user, increased to the highest in three months.