US crude futures rise $1.43/bbl on upbeat manufacturing data

01 July 2013 20:49  [Source: ICIS news]

HOUSTON (ICIS)--NYMEX light sweet crude (WTI) for August delivery settled up by $1.43/bbl on Monday, to $97.99/bbl (€75.45/bbl), in response to news of growth in the US manufacturing sector.

In its monthly purchasing manager's index, the Institute for Supply Management said that the index gained 1.9 percentage points in June, raising the reading ot 50.9% from May's measure of 49%. A reading above 50% indicates that the manufacturing sector is expanding.

The rise in crude followed a slight dip in prices at the end of last week.

ICE Brent for August delivery settled at $103.00 /bbl, up $0.84/bbl.

($1 = €0.77)

By: Michelle Klump
+1 713 525 2653

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