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Crude oil regains some losses

April 8, 2013 at 10:10 AM   |   Comments

NEW YORK, April 8 (UPI) -- Crude oil prices rebounded modestly Monday morning, holding above $93 per barrel on the New York Mercantile Exchange.

Prices had dropped more than $4 last week as traders contemplated how high supplies matched up with a disappointing jobs report.

The U.S. Labor Department said only 88,000 jobs were added in March, far less than anticipated.

On Monday, West Texas Intermediate crude oil for May delivery regained some of the lost ground, adding 49 cents to $93.59 per barrel.

Gasoline prices added 1.38 cents to reach $2.9083 a gallon.

Home heating oil hit $2.9465 a gallon, up 0.65 cents.

Natural gas gained 1.2 cents to $4.149 per million British thermal units.

At the pump, the average price of a gallon of regular unleaded gasoline was $3.593, down from $3.601 Sunday, the AAA Fuel Gauge Report said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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