Oil Ekes Out Third Weekly Gain Alongside Broader Market Rise
- Recovery in the U.S. taking hold, though India remains a risk
- WTI rises the most in a month as equities gain, dollar weakens
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Oil in New York surged the most in a month on Friday as prices garnered support from a recovery in equities and a softer dollar.
West Texas Intermediate climbed back above $65 a barrel, eking out a third straight weekly gain as a weakening dollar boosted appeal for commodities priced in the currency. Concerns persist over the spread of Covid-19 in Asia, which has tempered further gains.