Oil Rises to 9-Month High on U.S. Jobs. German Confidence
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Oil rose to the highest level in more than nine months as jobless claims held at a four-year low in the U.S. and German business confidence surpassed forecasts, signs fuel consumption may improve.
Crude increased for a sixth day after the Labor Department reported applications for jobless benefits were unchanged last week at 351,000, the fewest since March 2008. The growth in German confidence eased concern that the region’s largest economy would be affected by the European debt crisis.