Business News - Oil closes at record $145.27 Thursday

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Oil closes at record $145.27 Thursday

NEW YORK (UPI) -- Crude oil prices gained 10 cents to a record close of $145.27 Thursday on the New York Mercantile Exchange on continued supply concerns and a weak U.S. dollar.

Stockpiles in the United States declined by 2 million barrels, the U.S. Energy Information Administration said Wednesday.

On the exchange, the price of heating oil rose 0.0067 cents in late trading to $4.1127 per gallon. Reformulated blendstock gasoline prices rose 0.0015 cents to $3.5725 per gallon. Natural gas prices rose 0.04 cents to $13.617 per million British thermal units.

At the pump, the national average price for a gallon of unleaded regular gasoline was up 0.006 cents to $4.098 per gallon, AAA said.

Copyright 2008 by United Press International

This news arrived on: 07/03/2008

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