Bloomberg: Oil Set for Monthly Gain as Economy Recovers, Stockpiles Drop

“Crude oil is poised for the biggest monthly advance since October as the U.S. economy starts to recover and fuel inventories fall.  Federal Reserve Chairman Ben S. Bernanke said this week the U.S. economy is in a ‘nascent’ recovery. The U.K. emerged from recession in the fourth quarter at a faster pace than previously estimated, a report today showed. The amount of crude stored in tankers fell to 25 million barrels this month from levels of more than 80 million barrels last year, Poten & Partners said.”