Crude Oil Rises for a Second Day as European Growth Accelerates

Crude oil climbed for a second day as stronger-than-forecast economic growth in the euro zone signaled that European fuel consumption will increase.

Futures rose 0.7 percent after the European Union’s statistics office in Luxembourg said gross domestic product in the 17-nation region accelerated to 0.8 percent from 0.3 percent, beating the 0.6 percent median forecast in a Bloomberg News survey. The rising waters of the Mississippi River threaten to flood refineries and oil wells in Louisiana.