Oil Climbs in North America as Dollar Loses Value

Oil Climbs in North America as Dollar Loses Value

Heating oil advanced after an industry-funded report showed U.S. supplies of distillates fell last week and equities gained while the dollar weakened.

Heating oil gained after the American Petroleum Institute said yesterday that supplies of distillates, including heating oil and diesel, fell 3.36 million barrels last week. U.S. stocks rose as Intel Corp. forecast higher earnings. The U.S. currency slipped to a 15-month low against the euro, increasing the investment appeal of dollar-denominated commodities.

Source: Oil Climbs in North America as Dollar Loses Value