Oil Rises With Robust China Crude Imports Lifting Demand View
- Chinese imports climb 2.1% in positive sign for demand
- U.S. dollar strengthens and equities fall, limiting oil rally
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Oil advanced after data showing a rise in China crude imports signaled strengthening demand, even as uncertainty over U.S. fiscal stimulus kept price gains in check.
Futures in New York rose 2% on Tuesday, buoyed by data showing Chinese crude imports climbed 2.1% month-on-month in September, according to the General Administration of Customs. The nation also reported strong vehicle sales.