Oil up on stronger-than-expected U.S. GDP growth data

By Barani Krishnan NEW YORK (Reuters) - Oil prices rose on Tuesday on data showing the U.S. economy grew at its fastest rate in 11 years, supporting expectations of greater demand for crude. Crude markets were also supported by expectations for lower U.S. inventories in preliminary data for the week to Dec. 19 due from the American Petroleum Institute (API). But thinner-than-usual volumes ahead of Christmas and the year-end holidays meant that any move higher or lower was likely to be exaggerate