Oil Rises as Equities Rally, Euro Rises Against Dollar
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Oil increased after financial shares led U.S. equities higher and the euro advanced against the dollar for the first time in six days.
Futures rose 0.5 percent as the Standard & Poor’s 500 Index headed for its first gain in four days. A stronger euro and weaker dollar bolster oil’s appeal as an investment alternative. Prices dropped as much as 1.9 percent earlier after an Energy Department report showed U.S. stockpiles unexpectedly climbed as production surged to the highest level in 13 years.