MW; Crude oil turn higher after U.S. economic data
By Nick Godt
NEW YORK (MarketWatch) -- Crude-oil futures turned higher on Thursday, still buoyed by a drop in U.S. stockpiles, and after seveal upbeat U.S. economic reports that showed a drop in jobless claims and improving manufacturing conditions. Crude oil for October delivery recently gained 41 cents, or 0.6%, at $72.92 a barrel. Crude oil added to gains after the Federal Reserve Bank of Philadelphia's index on manufacturing jumped far more than forecast in September. The Philly Fed index rose to 14.1 this month from 4.2 in August, which was the first positive reading in nearly a year. Still ahead the Department of Energy will report its weekly estimate of natural-gas supplies.
