Crude Oil Climbs as U.S. Payroll Data Boosts Economic Outlook

Oil increased in New York after a rebound in U.S. payrolls boosted optimism the economy is accelerating. Futures rose 0.8 percent after Labor Department data showed employment picked up in April, a sign companies are gaining confidence.

U.S. Oil Output Surges to Highest Since 1986 on Shale

U.S. crude production climbed to the highest level in more than 28 years last week as the shale boom moved the country closer to energy independence.

Brent Crude Trades Near Three-Day High Amid Iran Nuclear Talks

Brent crude futures traded near a three-day high after United Nations nuclear officials failed to reach a deal on inspections with Iran.