October 6, 2009

Crude oil prices rise Tuesday

Crude oil prices rose above $71 per barrel on the New York Mercantile Exchange Tuesday after equities staged a one-day comeback Monday.

U.S. stock markets have been in a two-week slump. But Monday's numbers gave oil traders a shot of confidence.

Overnight, light, sweet crude oil gained 73 cents to $71.14 per barrel. Heating oil prices gained 0.0159 cents to $1.8075 per gallon. Reformulated gasoline prices rose 0.015 cents to $1.7689 per gallon. Natural gas prices rose 0.058 cents to $5.045 per million British thermal units.

At the pump, the national average price of unleaded gasoline was $2.461 per gallon Tuesday, unchanged from Monday, AAA said.