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Oil rises a third day on Draghi pledge, U.S. data
Jul 27th 2012, 03:25

NEW YORK (Reuters) - Oil futures rose for a third straight day on Thursday after a pledge by the European Central Bank to protect the euro zone eased some worries about the region's debt crisis. A drop in U.S. jobless-benefit claims for last week also supported crude's advance and with the ECB comments overshadowed worries about slowing global growth and the euro zone's troubles. ECB President Mario Draghi, at a conference in London, pledged to do whatever it takes to preserve the euro zone. He also said tackling high sovereign borrowing costs comes within the central bank's mandate. The euro rallied to a two-week high against the dollar on Draghi's...

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