Oil rose

West Texas Intermediate crude advanced after economic growth accelerated in China, the world’s largest oil-importing country, and on speculation that economic stimulus will continue in the U.S.

Futures rose as much as 1 percent as China’s gross domestic product expanded 7.8 percent in the July-through-September period from a year earlier, halting a two-quarter slowdown. Federal Reserve Bank of Chicago President Charles Evans said yesterday that the U.S. shouldn’t curb stimulus after a 16-day government shutdown. The U.S. is the second-biggest oil importer, according to the Energy Information Administration.

WTI crude for November delivery increased 43 cents, or 0.4 percent, to $101.10 a barrel at 11:16 a.m. on the New York Mercantile Exchange. The contract fell 1.6 percent to $100.67 yesterday, the lowest close since July 2. Prices are down 0.9 percent this week. The volume of all futures traded was 12 percent below the 100-day average.

Brent for December settlement advanced 60 cents, or 0.6 percent, to $109.71 a barrel on the London-based ICE Futures Europe exchange. Volume was 29 percent lower than the 100-day average. The European benchmark crude traded at a $8.34 premium to WTI for the same month.