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U.S. markets recover from steep losses
NEW YORK, March 25 (UPI) -- Crude oil prices held above $105 per barrel in New York Friday after the Department of Commerce raised its estimate of economic output for the fourth quarter.
In the third of three estimates, the department's Bureau of Economic Analysis said the fourth quarter gross domestic product rose 3.1 percent compared to the third quarter of 2010. The previous estimate, issued a month ago, put economic growth at 2.8 percent.
On the New York Mercantile Exchange, April delivery crude oil prices rose to a peak of $105.95 Friday before settling at $105.53 per barrel. The price of home heating oil shed 0.37 cents to $3.075 per gallon. Reformulated blendstock gasoline prices added 0.92 cents to $3.06 per gallon. Henry Hub natural gas prices added 18.2 cents to $4.426 per million British thermal units.
At the pump, the national average price of unleaded gasoline for motorists added 1 cent Thursday to Friday, reaching $3.561 per gallon, AAA said.
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