Brent Oil Rise to One-Week High as Japan Plans Stimulus
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Brent crude advanced to the highest level in more than a week as Japan’s central bank said it will expand asset purchases to lift the world’s third-biggest oil consumer out of the recession.
Futures rose as much as 0.7 percent to the highest since Jan. 10. The Bank of Japan will introduce open-ended asset purchases from January 2014 to boost the economy. Euro-area finance ministers yesterday approved a payout of 9.2 billion euros ($12.3 billion) to Greece this month.