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Sept. 5, 2012 / 5:25 PM

Crude oil held back by manufacturing news

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NEW YORK, Sept. 5 (UPI) -- Crude oil prices held under $96 a barrel Wednesday, with prices undercut by a string of weak manufacturing data.

The Institute of Supply Management said Tuesday U.S. manufacturing declined for a third month in August. On Wednesday, Markit said the Purchasing Managers Index for Europe fell in August from 47.5 percent to 47.2 percent.

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Traders also learned Wednesday China's PMI for service-oriented businesses dropped to a 12-month low.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for October delivery closed at $95.52 on a late gain of 22 cents. Natural gas added 0.1 cent to $2.796 per million British thermal units.

Home heating oil gained 1.24 cents to $3.13 per gallon. Reformulated blendstock gasoline added 1.37 cents to $2.9635 per gallon.

At the pump, the average price for a gallon of regular unleaded gasoline was unchanged at $3.824 per gallon Wednesday, AAA reported.

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