Oil Rises on Signs of Tight Supply, Robust Demand in Near Term

Oil rose amid signs of tighter supplies in the near term and on stronger demand signals in the US.

West Texas Intermediate crude rose 1.7% to settle above $67 a barrel, snapping a three-day losing streak. Equity markets advanced — typically a bullish indicator for commodities — after better-than-expected US economic data allayed some fears of oil demand deterioration.