August 28th, 2011

Crude oil futures traded near a three-day high in New York as investors speculated that growth will recover in the U.S., spurring demand in the biggest crude consumer. Gasoline slid as Tropical Storm Irene headed toward Canada.

Crude oil futures fluctuated after climbing as much as 0.4 percent. Growth is safe in the long run and the central bank can still aid recovery, Federal Reserve Chairman Ben S. Bernanke said Aug. 26. Refineries along the East Coast were operating plants at or near normal levels after Irene weakened from a hurricane. London’s Brent dropped as Libyan rebels claimed full control of oil fields.

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