West Texas Intermediate traded near the highest level in more than a week after the biggest gain since early January. U.S. crude stockpiles probably increased last week, a Bloomberg News survey showed. Futures were little changed, paring an earlier loss as the dollar weakened against the euro after the world’s major industrial nations sought to soothe mounting fears of a currency war. Inventories probably rose 2.35 million barrels, according to the survey before an Energy Department report tomorrow. North Sea Brent crude’s premium to WTI widened. “Prices would need much more momentum from the economic growth side to go higher,� said Gerrit Zambo, an oil trader at Bayerische Landesbank in Munich, who predicts Brent will trade from $115 to $120 a barrel this month. WTI for March delivery was 17 cents higher at $97.20 a barrel in electronic trading on the New York Mercantile Exchange as of 11:10 a.m. London time. The volume of all futures traded was 44 percent above with the 100-day average. The contract increased $1.31 to $97.03 yesterday, the most since Jan. 2 and the highest closing price since Feb. 1. Brent for March settlement, which expires tomorrow, advanced 56 cents to $118.69 a barrel on the London-based ICE Futures Europe exchange. The more-active April contract gained 57 cents to $117.78 a barrel. The volume of all futures traded was 11 percent above the 100-day average. The European benchmark grade for March was at a premium of $21.47 to WTI futures. To contact the reporters on this story: Grant Smith in London at gsmith52@bloomberg.net; To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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