West Texas Intermediate crude advanced after U.S. retail sales climbed, bolstering the outlook for the economy of the world’s biggest fuel-consuming nation.
Futures gained as much as 0.8 percent. Commerce Department data show purchases rose 0.7 percent last month, the most since June. Equities and commodities dropped yesterday on speculation that a two-year U.S. budget accord will increase the likelihood that the Federal Reserve will curb bond buying. The Fed may begin cutting stimulus at its Dec. 17-18 meeting, according to 34 percent of economists surveyed Dec. 6 by Bloomberg.
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