Oil prices hit four-week high

The price of West Texas Intermediate crude oil, the U.S. benchmark, rose 3.2% to $34.13. The price of Brent crude, the global benchmark, rose 3.8% to $36.62. The increases came after a report that US gross domestic product rose by a seasonally adjusted rate of 1% in the fourth quarter of 2015, against expectations of a downward revision to 0.4%.