NEW YORK, Aug. 26 (UPI) -- Crude oil prices climbed overnight, topping $73 per barrel on the New York Mercantile Exchange Thursday despite a rise in U.S. stockpiles.
The Energy Information Administration said Wednesday that stockpiles of crude oil rose by more than 4 million in the week ending Aug. 20.
Traders, however, are placing their bets by following the numbers on equity boards.
On Wednesday, U.S. stock markets posted marginal gains after an early downturn. Crude oil prices followed along, as they did Thursday morning with stock markets mostly higher in Asia and Europe.
Light, sweet crude oil for October delivery reached $73.06, adding 54 cents to a prior settlement. Heating oil for October added 0.0255 cents to $2.0111 per gallon. Reformulated blendstock gasoline rose 0.022 cents to $1.8474 per gallon. Henry Hub natural gas climbed 0.007 cents to $3.903 per million British thermal units.
At the pump, the national average price of unleaded gasoline fell to $2.688 per gallon Thursday, down from Wednesday's $2.696, AAA said.
