OREO-Oil rises on bullish US manufacturing data B
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Posted On: 04/02/2012 8:57:39 PM
OREO-Oil rises on bullish US manufacturing data
By CHRIS KAHN, AP Energy Writer – 1 hour ago
NEW YORK (AP) — Oil rose the most since late February after a report said that U.S. factories have cranked into a higher gear.
Manufacturers are big users of diesel fuel, so increased factory activity usually means increased demand for diesel.
Benchmark U.S. crude increased Monday by $2.21 to $105.23 per barrel in New York. It was the biggest gain since Feb. 21. Brent crude rose by $2.55 cents to $125.43 per barrel in London.
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