West Texas Intermediate rose for a second day on speculation government data will show crude stockpiles declined a sixth week in the U.S., the world’s biggest oil consumer.
Futures climbed as much as 0.5 percent in New York. Crude inventories fell by 2.75 million barrels last week, according to a Bloomberg News survey before an Energy Information Administration report today. The coldest U.S. weather in almost 20 years also signaled fuel demand may gain. In Iraq, al-Qaeda and allied fighters vowed to resist government forces trying to retake towns Prime Minister Nouri al-Maliki says are under the terrorist group’s sway.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.