facebook
twitter
search
search

Crude oil pushes toward $96

May 17, 2013 at 5:12 PM

NEW YORK, May 17 (UPI) -- Crude oil prices climbed toward $96 per barrel in New York Friday with an extended equities rally returning to Wall Street after a one-day pause.

Traders are also sensing that bad news is good news.

Many investors see a recent dip in economic expectations as a sign the U.S. Federal Reserve and other central banks will continue with accommodating monetary policies. As such, prices are weathering a recent spate of negative developments, including slower manufacturing growth in the mid-Atlantic states and in China.

On the New York Mercantile Exchange, West Texas Intermediate crude oil added 81 cents to $95.94 per barrel.

Gasoline prices added 1.93 cents to $2.904 a gallon. Home heating oil added 3.21 cents to $2.939 a gallon. Natural gas gained 11.2 cents to reach $4.059 per million British thermal units.

At the pump, the average price of a gallon of regular unleaded gasoline was $3.618 Friday, up from Thursday's $3.601, the AAA Fuel Gauge Report said.

Related UPI Stories
Latest Headlines
Trending Stories
Rapper DMX found unconscious, revived by New York police
Alaska woman claims McDonald's Happy Meal hasn't aged in six years
N.H. primary polls open: Kasich, Sanders get early leads
5 Reasons why Denver Broncos won't be repeat champions
Exposure to flashing light may prevent jet lag