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Feb. 20, 2014 / 3:58 PM

Crude oil rally takes a breather

Trading takes place in the oil options pit at the New York Mercantile Exchange after oil hit a record high of over $147 per barrel on July 11, 2008 in New York. (UPI File Photo/Monika Graff)

Trading takes place in the oil options pit at the New York Mercantile Exchange after oil hit a record high of over $147 per barrel on July 11, 2008 in New York. (UPI File Photo/Monika Graff) | License Photo

NEW YORK, Feb. 20 (UPI) -- Crude oil prices pulled away from a rally Thursday, as traders contemplated sluggish manufacturing activity in China.

A flash estimate of China's Markit Economics/HSBC Purchasing Managers Index for February came in at 48.3, a seven-month low that follows January's 49.5 level.

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The index indicates growth with figures above 50. Below 50 indicates a contraction.

On the flip side, crude oil continues to find support from a high demand prompted by a colder-than-average winter and from a weak U.S. dollar.

On the New York Mercantile Exchange, crude oil shed 50 cents to $102.92 per barrel. Natural gas, lost 11 cents to $6.01 per million British thermal units.

Reformulated blendstock gasoline prices added 2.24 cents to $2.8433 per gallon.

Heating oil prices added 2.43 cents to $3.178 per gallon.

At the pump, the national average price for a gallon of unleaded rose from Tuesday's $3.366 per gallon to $3.375, the AAA Daily Fuel Gauge Report said.

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