Oil Snaps Three Days of Losses on China Growth Outlook

Oil rose, snapping three days of losses and trimming its weekly decline, amid speculation China’s industrial production rose at the fastest pace since March, boosting demand in the world’s second biggest crude user.

Futures advanced as much as 0.4 percent before a report Dec. 9 that may show China’s output grew 9.8 percent in November from a year earlier, according to the median estimate of economists surveyed by Bloomberg News. The country’s retail sales are forecast to have increased 14.6 percent last month, compared with a 14.5 percent gain in October. Oil slid to the the lowest price in three weeks yesterday after the European Central Bank cut its forecast for euro-area economic growth.