Oil Climbs to Four-Month High on Fed Stimulus Plan

Oil advanced to a four-month high as the Federal Reserve announced a plan to buy mortgage securities and on concern that protests in the Middle East and North Africa may lead to supply disruptions.

Futures rose 1.3 percent after the Fed said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month to boost growth. Protesters tried to storm the U.S. Embassy in Sana’a, Yemen. A Sept. 11 attack on the U.S. Consulate in Benghazi, Libya, killed the American ambassador, Chris Stevens, and three colleagues.