Oil rose towards $66 a barrel on Monday after China moved to bolster its flagging economy, raising hopes that the world’s top energy consumer would help absorb a global supply glut. China cut interest rates for the third time in six months on Sunday to stoke its sputtering economy, which is headed for its worst year in a quarter of century. Data on Friday showed China ahead of the United States as the world’s top oil importer in April, as the Asian economy seized on lower crude prices to stock up. Brent crude LCOc1 for June was up 20 cents at $65.59 a barrel by 0800 GMT (4 a.m. EDT) after dropping 1.6 percent last week. June U.S. light crude CLc1 was up 20 cents to $59.59 a barrel after rising for eight straight weeks, the longest winning stretch since late 2012 to early 2013. Analysts talk of […]