Oil rose toward $42 a barrel in New York as signs of a robust demand recovery in Asia offset a jump in U.S. crude stockpiles. (Bloomberg) — Oil rose toward $42 a barrel in New York, as signs of a robust demand recovery in Asia offset a jump in U.S. crude stockpiles. West Texas Intermediate futures advanced 1.1%, buoyed as a decline in the dollar enhanced the appeal of commodities priced in the U.S. currency. Refiners in China, Japan and South Korea snapped up cargoes from Russia, the Middle East and the U.S., leading to a gain in physical crude prices. Buying interest has been strong after some refiners got less oil than usual in term supply contracts from OPEC producers Saudi Arabia and Iraq. The American Petroleum Institute reported on Tuesday that crude inventories swelled by 4.17 million barrels last week, according to people familiar with the matter. […]