Oil Rises From One-Month Low Before U.S. Manufacturing Report
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Crude oil rose from the lowest price in a month before a U.S. report forecast to show that manufacturing expanded in the world’s biggest energy user.
Oil snapped four days of declines in New York as the dollar fell against the euro, increasing the investment appeal of commodities. U.S. factory production and housing starts probably gained in July, economists said before reports this week. Goldman Sachs Group Inc. said the oil market is strengthening, and repeated its forecast for a gain to $85 to $95 a barrel.