Oil Advances as Expanding U.S. Payrolls Signal Greater Fuel Use

Oil rose from the lowest level since April as U.S. jobs data pointed to a moderate pace of economic growth in the world’s biggest crude-consuming nation.

West Texas Intermediate for August delivery gained 43 cents to $57.39 a barrel on the New York Mercantile Exchange at 9:02 a.m. The contract decreased $2.51 to $56.96 on Wednesday, the lowest prince since April 22.

Brent for August settlement rose 78 cents to $62.79 a barrel on the London-based ICE Futures Europe exchange. It slid $1.58 to $62.01 on Wednesday. The European benchmark crude traded at a premium of $5.36 to WTI.