Brent Crude Rises as China’s Growth Exceeds Estimates

Brent crude rose for the third time in four sessions as China’s economic growth beat analysts’ estimates, increasing demand for oil. West Texas Intermediate also climbed.

Futures climbed as much as 1.1 percent in London. China’s gross domestic product rose 7.3 percent in the July-September period from a year earlier, the statistics bureau said today in Beijing. While that exceeded the 7.2 percent median estimate in a Bloomberg News survey of analysts, it was also the slowest expansion since the first quarter of 2009. The country’s oil demand increased by 7.1 percent in September, more than double the growth rate in August, according to data compiled by Bloomberg.