Oil Rises to Three-Month High as China Exports Accelerate
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Oil rose to the highest level in three months as exports from China accelerated and European Central Bank President Mario Draghi said “a gradual recovery should start” in the region this year.
Prices advanced 0.8 percent after China’s customs agency said overseas sales in the world’s second-largest fuel-consuming country jumped 14.1 percent last month from a year earlier. Oil also gained as the euro surged against the dollar on Draghi’s remarks.