U.S. crude oil prices post $2 gain to top $105

July 31, 2013 at 4:12 PM
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NEW YORK, July 31 (UPI) -- Crude oil prices topped $105 per barrel in New York Wednesday, as key U.S. economic reports came in better than expected.

The Bureau of Economic Analysis said the nation's gross domestic product grew 1.7 percent in the second quarter, beating expectations of a 1.4 percent gain. Payroll firm Automatic Data Processing Inc. said nearly 200,000 jobs were added to the economy in July, also beating expectations.

West Texas Intermediate crude on the New York Mercantile Exchange added $2.05 to reach $105.13. Reformulated blendstock gasoline added 2.3 cents to $2.998 per gallon. Home heating oil gained 4.32 cents to $3.0522 per gallon.

Natural gas added 0.8 cents to $3.44 per million British thermal units.

At the pump, the national average price for a gallon of unleaded regular gasoline was $3.627 Wednesday, up from Tuesday's $3.624, the AAA Fuel Gauge report said.

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