NEW YORK, March 29 (UPI) — Crude oil prices for May delivery shifted sharply higher Monday, topping $82 per barrel in New York with the dollar index recently down 0.48 percent.
A lower dollar tends to pick up demand in oil as it becomes that much more affordable in other currencies.
On the New York Mercantile Exchange, light, sweet crude oil prices for May delivery added $2.48 to $82.48 per barrel. Heating oil futures for May delivery added 0.0373 cents to $2.1205 per gallon. Reformulated gasoline blendstock for May gained 0.0493 cents to $2.2578 per gallon. Henry Hub natural gas prices for May lost 0.025 cents to $3.905 per million British thermal units.
At the retail level, the average national price for unleaded regular gasoline was $2.80 per gallon Monday, down from Sunday’s $2.803, AAA said.
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