Oil Surges More Than $2 as U.S. Economic Growth Signals Demand Will Climb

(Bloomberg) -- Crude oil rose more than $2 a barrel
in New York 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