Oil prices edge back up again

August 24, 2011 at 11:56a.m.

NEW YORK (AP) — Oil rose Wednesday following news of stronger U.S. manufacturing activity.

Benchmark West Texas crude on Wednesday rose 56 cents to $86 per barrel in New York, while Brent crude was up $1.28 at $110.59 per barrel in London.

Prices climbed after the government reported that orders for long-lasting, durable goods like autos and aircraft increased 4 percent in July, the biggest increase since March. Manufacturing is a major driver of economic growth, and more manufacturing boosts energy demand.