UsManufacturingIncreases

Oil Rises on Bullish US Manufacturing Data

The price of oil is climbing on reports that U.S. factories have cranked into a higher gear. Benchmark U.S. crude increased Monday by $1.07 to $104.09 per barrel in New York while Brent crude rose by 68 cents to $123.56 per barrel in London.

Factory Output Jumps 0.7% in January

U.S. factories boosted output last month and December ended up being their best month of growth in five years. Strong auto sales and growing business investment in machinery and other equipment are keeping factories busy and helping the economy grow.