NEW YORK (AP) -- Oil prices are below $97 a barrel on mixed signs about the strength of crude demand in the U.S. amid growing inventories and a stronger dollar
Benchmark crude fell by $1.31 to $96.30 per barrel on Thursday morning in New York. Brent crude rose 73 cents to $112.29 per barrel in London.
A jump of U.S. crude inventories last week by 4 million barrels suggested oil consumption is sluggish. Analysts expected a rise of 3 million barrels. However, factories raised output in January by the most in seven months and construction spending rose 1.5 percent in December, the fifth straight monthly gain.
Oil prices have hovered near $100 for the last few months amid mixed economic signs from the U.S., Europe and Asia. Some analysts expect crude to begin to rise as the global economy may grow more this year than previously expected.
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