Oil prices rise as China's policy easing fuels demand hopes

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Oil prices climbed 1 per cent on Wednesday as market participants anticipated a rise in demand from top importer China following Beijing's latest plans to boost economic growth. Brent crude futures gained 75 cents, or 1.04 per cent, to $72.94 a barrel by 1011 GMT, while U.S. West Texas Intermediate crude futures rose 75 cents, or 1.09 per cent, to $69.34. China said on Monday it would adopt an "appropriately loose" monetary policy in 2025 as Beijing tries to spur its economy with the first easing of its stance in 14 years. "While past efforts have focused on sectors like…