West Texas Intermediate crude rose from a 17-month low on bets that monetary policies in the largest economies will remain expansionary. Brent was steady after entering a bear market yesterday on concern global supplies will exceed demand.
WTI advanced as much as 0.7 percent in New York. The dollar fell for a fourth day, bolstering the appeal of commodities, after minutes released yesterday from the Federal Reserve’s September meeting showed concern about risks in a stronger currency. Brent was little changed after settling more than 20 percent below its recent peak, meeting a common definition of a bear market.