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Crude oil prices top $82 per barrel

Oct. 5, 2010 at 6:47 PM   |   Comments

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NEW YORK, Oct. 5 (UPI) -- Crude oil prices rose above $82 per barrel Tuesday after the Bank of Japan cut its lending rate from 0.1 percent to zero.

The move sent Japanese stocks higher and pushed the yen lower, as currency traders sold yen to find better returns elsewhere.

The Nikkei 225 index in Tokyo rose 1.47 percent. The Shanghai composite index in China also put on a burst of steam, rising 1.72 percent. In New York, the Dow Jones industrial average gained 1.8 percent.

On the New York Mercantile Exchange, the price of November delivery light, sweet crude added $1.07 to hit $82.54 per barrel. Heating oil prices shed 0.26 cents from a recent settlement to $2.30 per gallon. Reformulated blendstock gasoline prices dropped 0.25 cents to $2.123 per gallon.

Henry Hub natural gas prices added 2.8 cents to $3.771 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $2.732 per gallon from Monday's $2.718, AAA said.

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