Oil rises on manufacturing numbers from US, China

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The price of oil rose more than 1 percent on encouraging manufacturing data from the U.S. and China.

Benchmark U.S. crude for January delivery rose $1.10, or 1.2 percent, at $93.82 a barrel on the New York Mercantile Exchange.

U.S. manufacturing grew in November at the fastest pace in 2½ years as factories ramped up production, stepped up hiring and received orders at a healthy clip. Chinese manufacturing continued to grow slightly last month, a survey showed, in evidence that growth in the world’s No. 2 economy was continuing, albeit at a modest pace.

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