Crude Oil Holds Steady


"Prices were supported Thursday by the weekly stockpile report."

Crude oil prices held steady overnight on the New York Mercantile Exchange, dropping slightly, but holding above $111 per barrel.

Prices were supported Thursday by the weekly stockpile report, which said U.S. inventories dropped by 2.3 million barrels in the week ending April 15. A weaker dollar has also helped prop up prices.

On Thursday morning, May delivery crude oil in New York fell slightly, losing $0.12 to reach $111.13 per barrel. Home heating oil lost $0.24 to $3.2118 per gallon. Reformulated blendstock gasoline shed $0.43 to $3.2441 per gallon.

Natural gas prices rose, adding $0.01 to $4.321 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.84 per gallon from Wednesday's $3.837, AAA said.

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