Oil rose from a six-week low after a report showed that manufacturing in the U.S. expanded at a faster pace than forecast, signaling economic growth in the world’s biggest crude-consuming country.

Futures climbed as much as 1.4 percent as the Institute for Supply Management’s factory index increased to 53.4 last month from 52.4 in February, the Tempe, Arizona-based group’s data showed. The median forecast called for a gain to 53. Crude fell earlier after a report showed euro- region manufacturing contracted.

Futures in New York dropped as much as 0.9 percent earlier as London-based Markit Economics said euro-area manufacturing declined for an eighth month in March. The European manufacturing gauge, based on a survey of purchasing managers, fell to 47.7 from 49 in February, remaining below the 50 line that divides expansion from contraction.

Crude oil for May delivery rose to $104.79 a barrel on the New York Mercantile Exchange. Earlier, futures touched $102.06 a barrel, the lowest level since Feb. 13. Prices are up 5.6 percent this year.

Brent oil for May settlement climbed $1.59, or 1.3 percent, to $124.47 a barrel on the London-based ICE Futures Europe exchange.

The price of gold rising against the publication of the report on manufacturing activity in the U.S., the results of which indicated an acceleration in economic growth. Thus, the index of economic conditions in the ISM manufacturing sector in March was 53.4, expected 53.0, the previous value of 52.4. At the same time, construction spending fell in February by 1.1%, expected to increase by 0.6%.

Pressure on gold continues to provide that the jewelers in India - the world's largest gold market - strike seventeenth consecutive day to protest against the doubling of import duty on gold.

April futures price of gold on COMEX today rose to $ 1682.7 an ounce.