Oil Rises Above $95 as Housing Permits Ease Economic Concern
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Oil climbed above $95 a barrel for the first time in three months as U.S. building permits reached a four-year high and equities advanced, adding to optimism that faster economic growth will boost demand.
Prices gained for a third day after the Commerce Department reported the permits increased to an 812,000 annual pace in July, the most since August 2008. The Standard & Poor’s 500 Index rose to the highest level since April.