With equities taking an upward route, Crude oil starts to climbs
As equity markets also turned in a positive day, crude oil prices rose to nearly $84 per barrel Thursday.
Oil inventories rose by 1.9 million barrels and gasoline by 3.6 million barrels in the week ending April 16, the U. S. Energy Information Administration has said.
But demand appears strong with equity markets shaking off concerns about regulator reform, rising Thursday after President Barack Obama visited the financial district in New York to pitch a financial reform bill.
On the New York Mercantile Exchange, June delivery crude added $1.25 from an early settlement to $83.73 per barrel.
Reaching $2.2365 per gallon, heating oil prices for June dropped 0.0032 cents. Loosing 0.0024 cents, reformulated gasoline blend-stock prices for June ended the day at $2.3079 per gallon.
Henry Hub natural gas prices for June fell 1 cent to $4.205 per million British thermal units.
According to the reports of AAA, at the pump, the national average price for unleaded gasoline was $2.855 per gallon on Thursday, down slightly from Wednesday's $2.856. (With Inputs from Agencies)