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Natural gas futures gained for a third day in New York as forecasts for hotter-than-normal weather signaled increased demand from power plants to run air conditioners.
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West Texas Intermediate crude fell for a second day as the dollar climbed, reducing the appeal of raw materials priced in the U.S. currency.
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Commodities dropped for a second day, led by metals and oil, amid signs of an economic slowdown in China and after a government report showed American crude supplies surged to a record.
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West Texas Intermediate crude rose to the highest level in more than two weeks as the Standard & Poor’s 500 Index approached a record on optimism that central banks will maintain economic stimulus to bolster growth.
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West Texas Intermediate crude capped the longest rally in nine months as fewer Americans filed first-time claims for unemployment insurance payments last week and the market breached key technical resistance.
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West Texas Intermediate crude rose to a one-week high as the Group of 20 nations approved of Japan’s stimulus program, bolstering speculation that fuel demand will climb in the third-biggest oil-consuming nation.
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West Texas Intermediate crude rose from a four-month low on signals that recent losses were exaggerated and as Spain sold more debt than planned.
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West Texas Intermediate crude rose for a third day as the Standard & Poor’s 500 Index advanced to an intraday record, bolstering speculation that fuel consumption will climb. Brent oil’s premium to New York futures shrank to the smallest level since June.
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West Texas Intermediate crude fell to a one-month low after U.S. retail sales and consumer confidence declined, signaling lower fuel demand.
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West Texas Intermediate crude rose as U.S. equities surged after data showed U.S. factory orders exceeded forecasts, signaling increasing economic growth and fuel demand.