Brent rose for the first time in six days amid speculation about the price level that will force some producers to curb investment and limit future supply growth. West Texas Intermediate advanced in New York.
West Texas Intermediate crude fell below $80 a barrel for the first time since June 2012 amid speculation rising U.S. supplies are exacerbating a global glut. Brent fell to the lowest level in almost four years.
Hedge funds raised bullish gold wagers to the highest in eight weeks as signs of stronger Chinese demand drove prices to the longest rally since August. Goldman Sachs Group Inc. says the gains will be short-lived.