Oil Rises After Government Report Shows U.S. Growth Exceeded Expectations

(Bloomberg) -- Crude oil rose after a government
report showed that the U.S. economy grew more than expected in
the second quarter, indicating fuel demand will rise in the
world's biggest energy consumer.

The economy grew 3.4 percent last quarter, the fastest pace
in more than a year. Economists surveyed by Bloomberg News before
the report predicted a 3.2 percent gain. The U.S. consumes 24
percent of global oil production.


Read more at Bloomberg Energy News