FRX: Crude Oil Increases as Chinese Economic Growth Accelerates
Crude oil rose as Chinese economic growth accelerated, signaling that fuel demand may climb in the world’s second-biggest energy-consuming country. Prices climbed as much as 1 percent after China said its gross domestic product increased 10.7 percent in the fourth quarter. An Energy Department report will probably show that U.S. crude-oil supplies climbed 2.45 million barrels last week, according to the median of 18 analyst estimates. Full Story