Oil Gains on China Growth, but European Inflation Weighs

The crude oil tanker RN Polaris and a bulk carrier sail in Nakhodka Bay near the port city of Nakhodka, Russia, on Dec. 4, 2022. Tatiana Meel/Reuters

LONDON—Oil edged higher on Thursday, though gains made on signs of a strong economic rebound in top crude importer China were kept in check by fears over the impact of potential increases to European interest rates.

Brent crude futures rose 43 cents, or 0.51 percent, to $84.74 a barrel by 1017 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 45 cents, or 0.58 percent, at $78.14.