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U.S. markets recover from steep losses
NEW YORK, Feb. 16 (UPI) -- The price of light, sweet March delivery crude oil jumped above $77 per barrel Tuesday as the dollar index dropped 0.85 percent.
The U.S. dollar has been gaining strength since mid-January, rising 5 percent against the euro, which has lost ground as the size of Greece's national debt has investors concerned. On Tuesday, however, it dropped sharply, giving a boost to commodities.
On Tuesday, the price of crude oil was up $3.02 to $77.15 per barrel. Heating-oil prices rose 0.0781 cents to $1.997 per gallon. Reformulated blendstock gasoline rose 0.0587 cents to $1.992 per gallon. Natural gas prices lost 0.137 cents to $5.331 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.61 per gallon Tuesday, down from Monday's $2.616, AAA said.
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