Oil prices rise on China stimulus

Oil prices rose on Tuesday as markets looked to rising demand in China, the world's largest buyer, and possible tight supply in Europe this coming winter and away from the overthrow of Syria's president.

Brent crude futures were up 51 cents, or 0.71%, to $72.64 a barrel at 1643 GMT. US WTI was up 59 cents, or 0.86%, at $68.97. Both benchmarks had risen more than 1% on Monday.

Support came from reports that China will adopt "appropriately loose" monetary policy in 2025 as Beijing tries to spur economic growth. This would be the first easing of its stance in 14 years, though details remain thin.

Chinese crude imports also grew annually for the first time in seven months, jumping in November from the year-earlier period.

"Hedge funds are starting to buy on tightness of supply in European markets this winter," said Phil Flynn, senior analyst with Price Futures Group. In Syria, rebels were working to form a government and restore order.