It was the second consecutive weekly increase at the auction.

That brought the index's rise on the week to 7.5pc, marking its biggest weekly increase in almost three years.

They seek a weekly increase of $95, or 15 percent, over three years.

Analysts had expected a weekly increase of just 1.6 million barrels.

Many trainers recommend a weekly increase in mileage of no more than 10%.

Some analysts said the rise, the first weekly increase in a month, raised questions about whether the recession was really over.

All three of the main market gauges had substantial weekly increases.

It was the largest weekly increase in five months.

The weekly increase was the largest since a jump of 91,000 during the week that ended Jan. 20.

Despite the weekly increase, money supply growth remains extremely weak.