(MENAFN- ProactiveInvestors)Wall Street shares continued higher and closed up for the third day running with oil and China affecting the mood. Energy stocks contributed to momentum as Santa's rally came flowing. Traders were buoyed by a rise in crude prices after a drop in weekly supplies with the US benchmark West Texas Intermediate adding 4.65% on the day to US$37.82 a barrel. There was a larger than anticipated reduction in American crude stockpile statistics from the American Petroleum Institute which indicated a 3.6mln barrel drop rather than a predicted 1.1mln draw. The surplus remains at every high levels however. In the markets the Dow Jones Industrial Index added 185 points to 17602. The S&P500 gained 25 to 2064 and the Nasdaq gained 45 to 5046. FTSE100 in London closed out 158 points higher at 6241. There was also good news from China's Central Economic Work Conference (CEWC) which has committed China to further fiscal and monetary easing MID-SESSION Santa's sled is pulling into view as US shares started on the front foot on Wednesday. Along with European indices Wall Street shares were moving north as the Santa rally kicked in - the benchmark Dow Jones rose 112 to 17529. The broader based S&P500 added 14 to 2054 and the Nasdaq index added 34 to 5035. In London FTSE100 was 145 points higher at the time of writing to 6227. Oil continued its upward trajectory too - with the US benchmark West Texas Intermediate adding 2.41% to go to US$37.01 a barrel. It came as the powerful cartel - the Organisation of the Petroleum Exporting Countries (OPEC) said prices will gradually recover in coming years. Spot gold however was around half a per cent lower at US$1069 an ounce. A notable gainer was digital entertainment firm Rovi Corp (NASDAQ:ROVI) which advanced over 32% after announcing it has extended its current contract with telecoms giant AT&T by 7 years. This will reportedly allow AT&T to continue to access the company's entertainment discovery patent portfolio..
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