Economics
Crude Oil Heads for Its Longest Run of Weekly Gains Since 2009
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Oil headed for the longest run of weekly gains since April 2009, on speculation that signs of U.S. economic growth and Europe’s steps to contain its debt crisis will support fuel demand.
Crude climbed as much as 0.8 percent in New York and is poised for a sixth weekly increase. The number of Americans filing applications for unemployment benefits fell to a seven-month low, a Labor Department report showed yesterday. Italy’s Senate approved a key budget bill today to clear the way for new leadership, while Greece formed a unity government.