N.Y. crude oil rises to near $73 a barrel

NEW YORK, July 10 (UPI) -- Oil prices rose to nearly $73 a barrel Tuesday amid strong global demand expectations for crude and growing U.S. needs for gasoline this summer driving season.

Light, sweet crude for August delivery rose 62 cents, or 0.86 percent, to close at $72.81 a barrel on the New York Mercantile Exchange. It had climbed as high as $73.04 a barrel.

August natural gas advanced 0.29 cents, or 4.51 percent, at $6.70 per 1,000 cubic feet.

Heating oil edged up 3.10 cents, or 1.48 percent, at $2.1238 a gallon.

Reformulated-gasoline blendstock for oxygen blending added 2.48 cents, or 1.06 percent, at $2.3694 a gallon.

AAA said the average U.S. retail regular unleaded gasoline price was $2.975 a gallon, up 0.01 cent from Monday's $2.965 a gallon.