MW: Crude oil gains 1% after U.S. manufacturing data
By Nick Godt
NEW YORK (MarketWatch) -- Crude oil futures added to earlier gains on Monday, after a U.S. manufacturing index rose much more than expected in October, lifting hopes for higher energy demand. Crude oil for December delivery was last up 95 cents, or 1.2%, at $77.95 a barrel, compared with $77.40 ahead of the report. The Institute for Supply Management said its factory index rose to 55.7% in October from 52.6% in September, and much higher than the reading of 53.0 expected by economists surveyed by MarketWatch. Readings above 50 indicate expansion.
