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.
via Bloomberg 
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