Lean data keeps oil in check

The price of crude oil held above $97 per barrel overnight in New York, shifting marginally lower on lean economic data. The Labor Department said the U.S. unemployment rate ticked higher in January to 7.9 percent. In Europe, research firm Markit Economics said the Purchasing Managers Index for the eurozone rose to 47.9 in January from 46.1. While an improvement, numbers below 50 indicate manufacturing in the currency region remain in contraction. NYMEX West Texas Intermediate crude oil for March delivery gave up 17 cents overnight to $97.29 per barrel. Reformulated blendstock gasoline added 0.55 cents to $3.037 a gallon. Home heating oil gained 2.88 cents to $3.1453 a gallon. Natural gas gained 3.1 cents to $3.361 per million British thermal units. At the pump, the national average price of unleaded gasoline rose to $3.462 per gallon from Thursday's $3.4 23 per gallon, AAA said. Over the past week, the national average price of gasoline has added 13.1 cents.