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Oil Futures Advance After U.S. Economic Growth Surges

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Oil advanced after economic growth in the U.S., the world’s biggest crude-consuming nation, surged at the fastest pace in more than a decade in the third quarter.

West Texas Intermediate rose 3.4 percent in New York, while Brent climbed 2.3 percent in London. Gross domestic product grew at a 5 percent annual rate from July through September, the biggest increase since 2003, revised figures from the Commerce Department showed today. Futures pared gains as a gauge of the dollar climbed to a five-year high.