Oil prices leap again Friday afternoon

NEW YORK, June 27 (UPI) -- Crude oil prices leaped to a record on the New York Mercantile Exchange, pushing up 2.2 percent to $142.70 per barrel at one point Friday.

Crude oil jumped $3.06 per barrel Friday, settling late in the day at $140.51 a barrel.

Oil prices are tied to the strength of the dollar and the economy in general, providing a safe bet for investors when the other markets are wobbling. Major U.S. markets fell most of the day Friday and the dollar lost ground against the euro and the yen.

The price of heating oil also rose Friday, up 0.0114 in late trading to $3.918 per gallon. Reformulated blendstock gasoline prices rose 0.0128 cents to $3.514 per gallon. Natural gas prices rose 0.074 cents to $13.272 per million British thermal units.

At the pump, the national average price for a gallon of unleaded gasoline fell slightly, down 0.001 cent to $4.066, AAA said.