Crude oil rose from the lowest 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. “Traders will likely trade upon the negative correlation with the dollar, which seems to be back in vogue,” said Stephen Schork, president of consultant Schork Group Inc. in Villanova, Pennsylvania, in an e-mailed note. “We will need to see strong domestic housing starts data tomorrow while the rest of the week is relatively quiet.” Crude oil for September delivery climbed as much as 39 cents, or 0.5 percent, to $75.78 a barrel on the New York Mercantile Exchange, and was at $75.73 at 12:35 p.m. Singapore time. The contract lost 0.5 percent on Aug. 13 to settle at $75.39, the lowest close since July 12. Oil had fallen to $75.17 today after Japan’s gross domestic product grew at less than a fifth of the pace economists estimated last quarter. The dollar fell to $1.2778 per euro after reaching $1.2734 earlier today, the highest since July 21. The dollar touched the highest in nearly four weeks versus the euro after Japan said its economy expanded at the slowest pace in three years. It was at $1.2754 in New York on Aug. 13. The MSCI Asia Pacific dropped 0.7 percent to 117.03 as of 10:59 a.m. in Tokyo, the lowest since July 22. The retreat extended last week’s 3.7 percent slump after economic reports indicated the global recovery is faltering. U.S. Manufacturing, Housing Factory production and housing starts probably rose in July as part of the U.S. economy’s uneven transition to a slower pace of growth in the second half of the year, according to analysts. Output increased 0.5 percent, led by a rebound in auto making as fewer plants closed for mid-year retooling, according to the median estimate of 57 economists surveyed by Bloomberg News before Federal Reserve figures Aug. 17. Another report may show work began on more houses for the first time since April. Hedge-fund managers and other large speculators increased their net-long position in New York crude-oil futures in the week ended Aug. 10, according to the U.S. Commodity Futures Trading Commission. Speculative long positions, or bets prices will rise, outnumbered short positions by 60,336 contracts on the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report. Net-long positions rose by 4,658 contracts, or 8 percent, from a week earlier. “Open positions increasing to the long side could add a dollar or two over the coming days,” said Peter McGuire, managing director at CWA Global Markets Pty in Sydney. Oil declined last week as a lack of jobs prompted Americans to hold back on spending, according to Commerce Department figures. U.S. gasoline supplies increased for a seventh week. Brent crude oil for September settlement was at $75.35 a barrel, up 24 cents, at 11:59 a.m. Singapore time on the London- based ICE Futures Europe Exchange. It fell 41 cents, or 0.5 percent, to $75.11 a barrel on Aug. 13.

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