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You are here:  Home / Business News / Crude rises as inventories fall

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Crude rises as inventories fall

Published: Dec. 28, 2006 at 4:41 PM
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NEW YORK, Dec. 28 (UPI) -- Crude oil futures in New York ended higher Thursday after the U.S. Department of Energy said crude inventories fell by 8.1 million barrels.

Light, sweet crude for February delivery was up 19 cents to settle at $60.53 a barrel on the New York Mercantile Exchange after losing value for four days.

The 8.1-million-barrel inventory drop the U.S. Energy Department reported for the week ended Dec. 22 was far more than most commodity analysts expected.

Natural gas futures rose 17 cents to $6.430 per million Btu.

January heating oil rose 0.0013 cents to $1.6218 a gallon.

Unleaded gasoline fell 0.0105 cents to $1.5716 a gallon.

AAA said Thursday the average U.S. retail gasoline price was $2.333 a gallon, down slightly from Wednesday's $2.335 a gallon.


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