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- Oil rose
Oil rose
West Texas
Intermediate crude rose from a two-week low as the fewest U.S. workers in more
than five years applied for unemployment benefits over the past month,
bolstering optimism that fuel demand will accelerate.
Prices
gained as claims in the month ended Aug. 17 declined to
WTI for
October delivery rose 52 cents, or 0.5 percent, to $104.37 a barrel at 10:34
a.m. on the New York Mercantile Exchange. The volume of all futures traded was
22 percent below the 100-day average. The contract fell to $103.85 yesterday,
the lowest close since Aug. 8.
Brent for
October settlement increased 19 cents to $110 a barrel on the London-based ICE
Futures Europe exchange. Volume was 28 percent below 100-day average. The
European benchmark was at a premium of $5.63 to WTI. The spread was
$5.96 yesterday, the widest since June 26.
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