Oil Gains a Second Day in New York as Stockpiles Seen Declining
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Oil gained a second day in New York before a government report that may show stockpiles dropped for the first time in 11 weeks in the U.S. amid speculation global policy makers will take steps to stimulate economic growth.
Crude fluctuated between gains and losses after rising yesterday for the first time in five days. Finance ministers and central bank governors from the Group of Seven countries will discuss the European debt crisis, Canadian Finance Minister Jim Flaherty said. U.S. crude supplies probably slipped 1 million barrels last week, according to a Bloomberg News survey before an Energy Department report tomorrow.