TORONTO - The Canadian dollar was higher Friday amid rising prices for oil and metals along with a weak manufacturing report for January. The loonie was up 0.08 of a cent to 100.87 cents US. A drop in production in the aerospace sector contributed to a drop in manufacturing sales in January. Statistics Canada says those sales declined 0.9 per cent to $49.6 billion, which was the second decrease in seven months. The agency says that lower sales in the primary metals, machinery and other transportation equipment industries also contributed to the overall decline. Excluding the aerospace industry, sales were virtually unchanged from December. Oil prices were higher with the April crude contract in New York ahead 64 cents to US$105.75 a barrel. Prices oscillated wildly on Thursday with the benchmark New York rate dropping around $3 a barrel at one stage on reports that the U.S. and Britain had agreed to release spare supplies of oil in an effort to drive fuel prices lower. However, the White House later said there was no plan to release supplies and oil prices recovered much of their losses. Copper prices lost early momentum and slipped a penny to US$3.89 a pound. Bullion prices continued to weaken with the April contract down $1.90 to US$1,657.60 an ounce.

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