Crude Oil Gains as IEA Says Demand Rising Faster Than Expected

Feb. 10 (Bloomberg) — Crude oil rose for a third day after the International Energy Agency said demand is increasing faster than expected while growth in Russian supply is slowing.

Oil demand will grow 1.8 percent this year, or 1.52 million barrels a day, 80,000 barrels a day more than anticipated last month, the Paris-based IEA said. Oil prices surged 34 percent last year as oil consumption climbed at its fastest pace in almost three decades.

Bloomberg.com