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Crude Oil Advances as Euro Extends Gains After Italian Treasury-Bond Sale

November 29 2011, 08:48

FMX|Connect- WWW.FMXConnect.com (Reported on 11/29/2011)

Crude Oil Advances as Euro Extends Gains After Italian Treasury-Bond Sale

Source: Bloomberg

Crude oil rose a third day in New York, recouping earlier losses as a strengthening euro and advancing equities signaled investors were less concerned that Europe’s debt crisis will derail the global recovery.

West Texas Intermediate futures gained as much as 1.1 percent, having earlier lost 1 percent. Demand for 2014 bonds auctioned by Italy today was 1.5 times the amount sold. The U.S. Energy Department may say tomorrow oil inventories rose for the first time in a month, while gasoline supplies climbed for a third week, according to a Bloomberg News survey. To read the full article, Click Here.

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