Crude oil gains on weaker dollar

April 19, 2011 at 6:42 PM
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NEW YORK, April 19 (UPI) -- Crude oil prices turned higher Tuesday in New York, returning above the $108-per-barrel mark as the dollar index dropped 0.6 percent.

The dollar was lower across Asia and Europe, making commodities priced in U.S. dollars more attractive to foreign investors.

On the New York Mercantile Exchange, May delivery West Texas Intermediate crude oil added $1.20 cents to $108.40 per barrel. Home heating oil lost 0.15 cents to $3.157 per gallon. Reformulated blendstock gasoline lost 0.35 cents to $3.2296 per gallon.

Henry Hub natural gas prices headed higher, adding 1.9 cents to $4.281 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.835 per gallon from Monday's $3.833, AAA said.

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