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Oil Rises to Three-Week High as Pending Home Sales Gain

Oil rose to a three-week high after pending U.S. home sales gained more than forecast in March and the dollar decreased against most major currencies, bolstering the appeal of commodities to investors.

Futures climbed 0.4 percent after the index of pending home purchases rose 4.1 percent to 101.4, the highest level since April 2010, according to the National Association of Realtors. The median forecast of 43 economists surveyed by Bloomberg News was a 1 percent rise. The Dollar Index fell, extending the five-day loss to 0.8 percent.