Bloomberg News

Oil Extends Gains in New York, Rises 0.7% to $101.71

April 11, 2012

Oil rose from the lowest settlement in almost two months in New York after an official at the European Central Bank signaled the lender may revive bond purchases to reduce Spain’s borrowing costs.

Crude for May delivery advanced 0.7 percent to $101.71 a barrel on the New York Mercantile Exchange at 11:04 a.m. London time.

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

To contact the editor responsible for this story: Rachel Graham at rgraham13@bloomberg.net


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