With the expectations of rise in demand, crude oil prices go up
As indications demand would rise trumped a report on increased stockpiles, crude oil prices topped $82 per barrel on the New York Mercantile Exchange.
Crude oil supplies rose by 1.4 million barrels in the week, said the U. S. Energy Information Administration on Wednesday. However on Tuesday it was said by the Organization of Petroleum Exporting Countries that demand would rise by 900,000 barrels per day in 2010.
43 cents were added from Wednesday in the April delivery light, sweet crude prices to be $82.35 per barrel. Heating oil prices rose 0.0038 cents to $2.12 per gallon.
Reformulated gasoline blend stock prices lost 0.0058 cents to $2.2793 per gallon. Henry Hub natural gas prices shed 0.122 cents to $4.437 per million British thermal units.
According to the reports of AAA, at the retail level, the national average price of unleaded gasoline was $2.776 per gallon Wednesday, up from Tuesday's $2.768. (With Inputs from Agencies)