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Oil rose after U.S. retail sales increased by the most in five months and equities gained, signaling stronger growth and higher demand.
Crude advanced as retail sales rose 1.1 percent in February after a 0.6 percent gain in January, the Commerce Department said.
Prices also gained after data showed German investor confidence jumped to a 21-month high. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations advanced to 22.3 from 5.4 in February.
Oil for April delivery rose to $107.35 a barrel on the New York Mercantile Exchange. The price is up 8.4 percent this year.
Brent crude for April settlement on the London-based ICE Futures Europe exchange gained $1.11, or 0.9 percent, to $126.45 a barrel.
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