Crude Gains Amid Robust Q3 GDP Data (USO) (OIL)

Crude oil prices are showing some gains following U.S. economic data released earlier Tuesday morning.

The U.S. Bureau of Economic Analysis said GDP rose 5 percent in Q3, according to its 'third' revision of the metric. Consensus estimates called for a 4.3 percent gain in the metric.

The BEA noted: The increase in real GDP in the third quarter primarily reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, exports, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased.

Brent and WTI crude prices are up about 1.4 and 1.5 percent, respectively.

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