October 1, 2014
NEW YORK (AP) - The price of oil is higher on word that China's manufacturing sector grew last month for the first time in more than a year.
Benchmark crude rose 93 cents to $89.84 per barrel in morning trading in New York. Earlier, oil topped $90 for the first time since Oct. 22.
An index measuring manufacturing in China showed expansion in November for the first time in 13 months. China is the world's second-largest economy after the U.S. and a huge consumer of oil. A better economy there suggests that energy consumption is likely to grow, pushing oil prices higher.
Also Monday, Greece revealed plans to spend up to $13 billion in a bond buyback program it hopes will help stabilize its mountainous debt.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.