Oil climbs on stronger manufacturing activity

August 24, 2011 - 10:20 AM

NEW YORK (AP) — Oil is rising on news of stronger manufacturing activity in the U.S.

Benchmark West Texas crude on Wednesday rose 57 cents to $86.01 per barrel in New York, while Brent crude was up 89 cents at $110.20 per barrel in London.

Prices climbed after the government reported that orders for long-lasting, durable goods like autos and aircraft increased 4 percent in July, the biggest increase since March.

An industry group also said that U.S. oil supplies grew more than expected last week. The government's supply numbers are expected later Wednesday.

At the pump, gasoline prices were flat at a national average of $3.575 per gallon.