Oil advanced after data showing a rise in China crude imports signaled strengthening demand. (Bloomberg) — Oil advanced after data showing a rise in China crude imports signaled strengthening demand, even as uncertainty over U.S. fiscal stimulus kept price gains in check. Futures in New York rose 2% on Tuesday, buoyed by data showing Chinese crude imports climbed 2.1% month-on-month in September, according to the General Administration of Customs. The nation also reported strong vehicle sales. Yet, dimming prospects for another round of U.S. fiscal stimulus before November’s election is limiting crude’s upward momentum. House Speaker Nancy Pelosi demanded the White House revamp its latest offer, while Senate Republican leader Mitch McConnell is pushing a smaller-scale strategy that Pelosi quickly rejected. The S&P 500 Index fell as much as 0.9%, while the Bloomberg Dollar Spot Index rose Tuesday, diminishing the appeal for commodities priced in the currency. China’s uptick […]