WTI Rises to One-Week High on U.S. Plan for Syria Strike

West Texas Intermediate crude climbed to its highest in a week as President Barack Obama sought diplomatic backing at the G-20 summit in Russia for a military strike on Syria.

Futures advanced as much as 1.1 percent as Obama began meetings in St. Petersburg where he is seeking to persuade other leaders of the Group of 20 nations to support armed intervention in response to Syria’s alleged use of chemical weapons. Crude extended gains after U.S. employers added fewer jobs than forecast in August, damping speculation the Federal Reserve will cut bond purchases this month.