Oil Closes Higher After U.S. Manufacturing Report

NEW YORK (AP) -- The price of oil finished higher Monday after a report showed U.S. manufacturing activity rose in September for the first time in four months.

That overshadowed a report that said U.S. construction spending fell for second straight month in August and a survey indicated manufacturing in China continues to slow.

Benchmark crude closed up 29 cents at $92.48 in New York. Brent crude, which is used to price international varieties of oil, fell 20 cents to $112.19 on the ICE Futures Exchange in London.

Prices at the pump slipped to $3.782 a gallon, according to AAA, Wright Express and the Oil Price Information Service. But they're still 35 cents higher than they were a year ago. Low supplies of gasoline, particularly in the Northeast, are keeping prices elevated.

Average gasoline prices this year are on track to be the highest ever, AAA said Monday, topping last year's record of $3.51 per gallon.

In other energy futures trading:

  • The price of natural hit another year high, closing up 16 cents at $3.48 per 1,000 cubic feet.
  • Heating oil lost 2 cents to $3.14 per gallon.
  • Wholesale gasoline closed unchanged at $2.92 per gallon.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2038701, ~/Articles/ArticleHandler.aspx, 12/22/2014 8:30:05 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement