Economics
Oil Caps Longest Streak of Weekly Gains Since 2009 on U.S. Jobs
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Oil rose in New York to cap the longest streak of weekly gains in more than two years on speculation that an unexpected drop in the U.S. jobless rate will spur fuel demand.
Oil increased to a three-month high after the Labor Department said unemployment declined to 9 percent in October, less than the 9.1 percent median estimate in a Bloomberg News survey of economists. Earlier, prices slid as the Group of 20 nations failed to agree to boost International Monetary Fund resources to fight Europe’s debt crisis.