After European leaders announced a $957 billion package to shore up the euro, Crude oil prices rebounded, climbing above $77 a barrel in New York Monday.

After months of accelerating concern over debt in Greece, Spain, Portugal and Britain, the European Union and the International Monetary Fund acted decisively during the weekend, approving loans meant to convince investors' government bonds in Europe are safe.

It was reported that equity markets, especially stocks in European banks, soared with the announcement. Crude oil prices, which dropped more than 12 percent in four trading sessions last week, added $2.17 to $77.28 per barrel.

Adding 0.0495 cents, heating oil futures for June went up to $2.129 per gallon. Reformulated gasoline blend-stock prices gained 0.056 cents to $2.1811 per gallon.

It was also reported that natural gas futures added 0.145 cents to $4.16 per million British thermal units.

According to reports of AAA, at the pump, the national average price for unleaded gasoline dropped to $2.908 per gallon Monday from Sunday's $2.914. (With Inputs from Agencies)