Oil rose to a nine-month high in New York after Iran said it halted some crude exports and investors bet that fuel demand will increase as Europe moves closer to bailing out Greece.
Futures climbed as much as 2.1 percent for a fourth day of gains, the longest rising streak since December. Iran will supply crude to “new customers” instead of companies in the U.K. and France, the oil ministry’s news website, Shana, said, citing Alireza Nikzad Rahbar, a spokesman. Prices also advanced as European finance ministers prepared to meet to discuss a 130 billion-euro ($172 billion) aid package for Greece, the country’s second rescue in less than two years.
