West Texas Intermediate crude rose to a six-week high on projections of a second consecutive drop in U.S. inventories. The spread between WTI and Brent oil from the North Sea shrank to the narrowest in a month.
Futures climbed as much as 1.4 percent in New York. An Energy Information Administration report tomorrow will probably show crude supplies slipped by 3 million barrels last week, according to the median of nine analyst responses in a Bloomberg survey. The Brent-WTI spread has tightened by more than $8 since Nov. 27. A Libyan security official said today that three oil ports will reopen Dec. 15.
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