WTI Oil Rises to 2-Month High as U.S. GDP Tops Forecasts

West Texas Intermediate crude climbed to a two-month high after a report showed the U.S. economy expanded in the third quarter at a faster rate than previously estimated.

Futures rose 0.3 percent, capping a weekly gain of 2.8 percent. Gross domestic product increased at a 4.1 percent annualized rate, up from a previous estimate of 3.6 percent, Commerce Department figures showed. The Federal Reserve said Dec. 18 that it will taper its bond-buying program amid improved prospects for the job market. A government report this week showed fuel use was at the highest level since 2008.