US crude oil jumps on Chinese data

Bullish news from China helped push crude oil closer to $107 per barrel in New York Thursday morning. West Texas Intermediate crude for September delivery added $1.74 to $106.77 per barrel with support from China's purchasing managers' index, which indicated manufacturing growth, coming in at 50.3 for July. The U.S. Federal Reserve's policy announcement Wednesday was considered neutral as it contained no hints the Fed would withdraw its $85 billion per month asset purchasing program. On the New York Mercantile Exchange, reformulated blendstock gasoline added 2.68 cents to $3.0231 per gallon. Home heating oil gained 3.26 cents to $3.0876 per gallon. Natural gas lost 1.2 cents to $3.434 per million British thermal units. At the pump, the national average price for a gallon of unleaded regular gasoline was $3.63 Thursday, up from Wednesday's $3.627, the AAA Fuel Gauge report said.