Oil climbed after China was said to order top state-owned energy companies to secure supplies for the approaching winter at all costs.
China’s purchase of a stake in a struggling regional bank from China Evergrande Group aimed at preventing contagion is also benefiting Shengjing Bank Co.’s investors, including some poker pals of Evergrande founder Hui Ka Yan.
Oil advanced in tandem with broader markets, ignoring a U.S. government report showing crude stockpiles rose for the first time in eight weeks.
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