Crude Increases on Signs of Demand Growth From China to U.S.

Oil rose for a second day in New York, extending gains into the fifth week in six as signs of economic growth in the U.S. and China stoked speculation that fuel demand will grow.

Futures advanced as much as 0.6 percent after the Federal Reserve reported Dec. 14 that industrial output in the U.S. climbed by the most in two years in November. A preliminary purchasing managers’ index showed manufacturing in China expanded at a faster pace this month. Syrian fighter jets bombed a Palestinian camp in Damascus, reviving concern that unrest in the Middle East may spread to oil-producing countries.