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Oil rose for a third day as the number of Americans filing first-time unemployment claims unexpectedly declined and Greek political leaders struck a deal on a package of austerity measures.
Futures advanced as much as 1.5 percent after the Labor Department said applications for jobless benefits decreased 15,000 in the week ended Feb. 4 to 358,000. The Greek government has reached the agreement required for a 130 billion-euro ($173 billion) financing package, according to an e-mailed statement from Prime Minister Lucas Papademos’s office.
Crude for March delivery gained to $100.18 a barrel on the New York Mercantile Exchange. Brent oil for March settlement increased 95 cents, or 0.8 percent, to $118.15 a barrel on the ICE Futures Europe exchange, rising for an eighth day.
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