Oil Heads for Second Weekly Gain

Bloomberg reports that Oil surged for a second weekly gain.

The market news is quoted as saying:

Futures gained as much as 0.5 percent and the euro advanced against the dollar as Moody’s Investors Service said it may place the U.S. government’s rating under review for possible downgrade. Crude earlier fell after a government report showed an unexpected increase in inventories to the highest level in two years.

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