NEW YORK (AP) - Oil is trading near $106 per barrel after government reports gave a mixed read on the health of the U.S. economy.
Crude prices were also lifted by a wave of violent protests and uprisings rocking the oil-rich Arab world.
The Commerce Department said companies trimmed orders for manufactured goods in February. This suggests that American businesses have only a tepid interest in making investments right now. Better news came from the Labor Department, which said fewer people applied for unemployment benefits last week, evidence that employers could be expanding their work forces.
Benchmark crude fluctuated as traders digested the news. The contract for May delivery added 21 cents to $105.96 in morning trading on the New York Mercantile Exchange.
