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Economics

Oil Rises on Stimulus Speculation

Oil rose on speculation central banks will take more steps to boost growth after manufacturing unexpectedly contracted in China.

Prices gained as much as 0.9 percent as equities rallied amid expectations that policy makers would enact stimulus measures to spur expansion. China’s Purchasing Managers Index shrank for the first time in nine months in August, a government survey showed Sept. 1. China is the world’s second-largest oil-consuming country after the U.S.