West Texas Intermediate crude advanced to a one-week high on signals that global economic growth will accelerate, bolstering fuel consumption.
Futures increased 0.9 percent as the Thomson Reuters/University of Michigan preliminary index of consumer sentiment rose to 83.7 in May, higher than any projection in a Bloomberg survey. A government report yesterday showed Japanese gross domestic product grew 3.5 percent at an annualized pace, the most in a year.
“We’re seeing some moderate exuberance here,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “Traders are focusing on the positive news at the moment.”Ah, yes, a magic carpet ride.
As bad as things are in the US, at least no Vietnam War. Oh, yeah, that's right. The
Ah, yes, the Vietnam War, if nothing else, great music:
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