(Bloomberg) — Oil climbed to a five-month high in London, topping $45 a barrel after U.S. industry data showed a decline in the nation’s stockpiles.
Brent futures gained for a fourth day, rising as much as 1.7% to the highest price since March 6. The American Petroleum Institute reported a 8.59 million-barrel drop in crude inventories last week, according to people familiar with the figures. Meanwhile, European equities and U.S. futures advanced on signs American lawmakers are making progress on an economic aid package.
Oil has struggled to maintain its momentum after rallying from a plunge below zero in April