The price of oil is climbing on reports that US factories have cranked into a higher gear.
Benchmark US crude increased Monday by $1.07 to $104.09 per barrel in morning trading on the New York Mercantile Exchange. Brent crude rose by 68 cents to $123.56 per barrel in London.
Manufacturers are big users of diesel fuel, so increased factory activity usually means increased demand for diesel. The Institute for Supply Management, a trade group of purchasing managers, reported that US manufacturing grew in March at a faster pace than the previous month. - Sapa-AP