Saturday, March 24, 2012

Crude oil rises on weaker dollar

Published: March. 23, 2012 at 4:37 PM

NEW YORK, March 23 (UPI) -- Crude oil prices headed toward $107 per barrel Friday, with prices supported by a weaker dollar.

The dollar index dropped 0.45 percent to 79.32 on the International Exchange.

Economic data was less supportive. Equities were down across most of Asia. In Washington, the U.S. Census Bureau said home sales fell 1.6 percent from January to February to a seasonally adjusted annual rate of 313,000.

Stocks, however, rose modestly on Wall Street.

April delivery West Texas Intermediate light sweet crude added $1.42 to $106.77 per barrel. Home heating oil added 2.87 cents to $3.2215 per gallon. Reformulated gasoline added 4.28 cents to $3.3685 per gallon.

Henry Hub natural gas prices gained 0.58 cents to $2.269 per million British thermal units.

The national average price of unleaded gasoline reached $3.889 per gallon Friday, up from Thursday's $3.881, AAA said.

Source: http://pheed.upi.com/click.phdo?i=0fd377a2b7880041b45e5d52caae692d

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