Oil rises $1 on U.S. manufacturing data

By IBTimes Staff Reporter | February 01 2010 8:24 PM

Oil rose by more than $1 a barrel in New York on Tuesday, continuing the previous session's gains after U.S. manufacturing data boosted optimism that the world's largest economy is on the way to recovery. U.S. crude for March delivery hit $75.44 a barrel, up $1.01, and then fell back to trade at $75.16 at 0114 GMT. Brent crude climbed 73 cents to $73.84 a barrel.

Sponsorship Link

(Reporting by Alejandro Barbajosa; Editing by Michael Urquhart)

More in Commodities

Brent Lower on Ample Supply and Waning Demand

Brent Lower on Ample Supply and Waning Demand

Energy - Balancing the Bonanza: Interview with Mark Thoma

Energy - Balancing the Bonanza: Interview with Mark Thoma

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Dips on US Demand Woes

Brent Dips on US Demand Woes

In Depth

Cruise Passengers Get ‘Bill Of Rights,’ But Critics Are Skeptical Of The Wording

Dear Cruise Passengers: Here’s Your New ‘Bill Of Rights’

Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]

Obama, With Deft Words, Copes With Heckler During Drone Speech

Westboro Baptist Church's 'God Hates Oklahoma' Site Hacked In Hilarious Fashion

Westboro's 'God Hates Oklahoma' Site Hacked For Good

Joe Biden's UPenn Commencement Address Upsets Chinese International Students

UPenn's Chinese Students Demand Biden Apologize For Graduation Speech

web counter