Oil Trades Near Two-Week Low on Economy and Iran Offer

Oil climbed from the lowest price in more than two weeks in New York on forecasts that gasoline supplies are falling and employment increasing in the U.S., the world’s biggest consumer of crude.

Futures gained as much as 0.9 percent before government data today that may show motor-fuel inventories slipped by 1.6 million barrels last week. Stockpiles decreased 2.25 million barrels, the most since November, the industry-funded American Petroleum Institute said yesterday. U.S. employers probably added 210,000 jobs in February after gaining 243,000 in January, according to a Bloomberg survey before a March 9 report.