Oil Rises $1 to Near $78 a Barrel
Oil rose from a two-week low to near $78 a barrel early Monday following reports of increases in Chinese manufacturing output, Bloomberg reported.
Oil rose almost $1 to $77.85 a barrel in early New York Mercantile Exchange trading after slipping $3.50, or 4.4%, last week, Bloomberg said.
Futures closed on the Nymex at $77 a barrel on Friday.
The Department of Energy comes out with its weekly survey of diesel and gasoline pump prices Monday afternoon in Washington.
