U.S. crude oil prices rise
May 14, 2009 (United Press International) -- Crude oil prices rose slightly on the New York Mercantile Exchange Thursday on retail news and job figures that point to a continued slowdown in demand.
The U.S. Commerce Department said Wednesday retail sales fell 0.4 percent in April. On Thursday, the Labor Department said first-time claims for unemployment benefits jumped by 32,000 in the week ending May 9.
The International Energy (OOTC:ILGL) Agency in Paris said global oil demand would fall further than expected a month ago, dropping by 2.56 million barrels a day in 2009.
Crude oil prices rose 62 cents to $58.59 per barrel. Heating oil prices rose 0.0015 cents to $1.4915 per gallon. Reformulated blendstock gasoline rose 0.0345 cents to $1.722 per gallon. Natural gas prices rose 0.074 cents to $4.293 per million British thermal units.
At the pump, the average price for a gallon of regular unleaded gasoline was $2.281, up from Wednesday's $2.267 a gallon, AAA said.
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