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July 24, 2009 / 4:31 PM

Oil prices top $68

Numbers are displayed on an electronic sign at the NYMEX as oil nears $104 per barrel on March 4, 2008 in New York. Oil prices continued to rise ahead of the OPEC production meeting where it is predicted that OPEC will not increase oil supply to ease record-high prices. (UPI Photo/Monika Graff)

Numbers are displayed on an electronic sign at the NYMEX as oil nears $104 per barrel on March 4, 2008 in New York. Oil prices continued to rise ahead of the OPEC production meeting where it is predicted that OPEC will not increase oil supply to ease record-high prices. (UPI Photo/Monika Graff) | License Photo

NEW YORK, July 24 (UPI) -- Crude oil futures rose above $68 a barrel Friday while stocks and a weaker dollar also boosted prices.

Light sweet crude for September delivery rose 89 cents, or 1.3 percent to end at $68.05 a barrel on the New York Mercantile Exchange.

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It was the highest settlement for a front-month contract since July 1. Trading had fallen below $66 in earlier trading.

Oil has been mostly pacing gains in stocks recently, rising in seven out of eight recent sessions, but some experts say they are wary of the increases.

Meanwhile, August reformulated gasoline rose slightly to end at $1.9159 a gallon and August heating oil added 1 percent to $1.7813 a gallon.

August natural gas futures rose 14.5 cents, or 41 percent per million British thermal units.

AAA reported retail gasoline prices averaged $2.47 Friday, up 0.5 cent from Thursday and down $1.556 from a year ago.

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