Crude oil prices headed higher on the New York Mercantile Exchange Thursday, climbing above $112 per barrel as the dollar fell for the third consecutive day.
Prices were supported 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 also has helped prop up prices, the dollar index dropping 0.36 % Thursday.
May delivery crude oil in New York added $1.13 to reach $112.25 per barrel. Home heating oil gained 0.12 cents to $3.2174 per gallon. Reformulated blendstock gasoline gained 2.93 cents to $3.2777 per gallon.
Natural gas prices rose, adding 1.1 cents to $4.423 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.