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Intermediate crude rose for a second day as Russian President Vladimir Putin
said his nation will assist
climbed as much as 1.8 percent. Putin said that
Crude also gained on speculation that the Federal Reserve will limit its stimulus reduction following slower-than-expected jobs growth. Prices also climbed as the Labor Department said non-farm payrolls grew 169,000 last month, less than 180,000 median forecast of 96 economists. The move followed a revised 104,000 rise in July that was smaller than the initial estimate of 162,000.
The unemployment rate, derived from a survey of households rather than employers, dropped to 7.3 percent, the lowest level since December 2008. The participation rate, which indicates the share of working-age people in the labor force, declined to 63.2 percent, the least since August 1978, from 63.4 percent.
WTI for October delivery gained $1.73, or 1.6 percent, to $110.10 a barrel at 11:16 a.m. on the New York Mercantile Exchange. Prices are up 2.3 percent this week. Volume of all futures was 3.7 percent below 100-day average.
Brent for October settlement rose 91 cents, or 0.8 percent, to $116.17 a barrel on the ICE Futures Europe exchange. The volume of all futures traded was near the 100-day average.
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