Oil Rises as Europe May Increase Effort to Contain Debt Crisis
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Oil rose on speculation that euro-area leaders will do more to fight the debt crisis and on concern that tension in the Middle East will disrupt supply.
Futures gained 0.6 percent, paring a second weekly loss, after Italian Prime Minister Mario Monti said that German Chancellor Angela Merkel and French President Nicolas Sarkozy would support Italy. Four people died in Saudi Arabia this week in clashes between Shiite Muslims and security forces.