Bloomberg News

Oil Rises as Bernanke Call for Looser Policy Spurs Demand Hopes

March 26, 2012

Oil rose, recovering earlier losses, after Federal Reserve Chairman Ben S. Bernanke said accommodative policy is needed to lower unemployment, causing a drop in the dollar that made commodities more attractive. Futures gained as much as 0.2 percent to $107.09 a barrel on the New York Mercantile Exchange.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editor responsible for this story: John Buckley at johnbuckley@bloomberg.net


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