Oil Prices Rise as Crude Oil and Gasoline Demand Increases
The price of benchmark U.S. crude oil for March delivery experienced a significant increase of $2.27, reaching $77.36 per barrel on Thursday. Similarly, Brent crude for March delivery rose by $2.39, reaching $82.43 per barrel.
Gasoline and Heating Oil Prices Also Surge
Wholesale gasoline prices for February delivery saw a rise of 5 cents, reaching $2.26 per gallon. Additionally, February heating oil prices increased by 12 cents, reaching $2.80 per gallon. However, February natural gas prices fell by 7 cents, reaching $2.57 per 1,000 cubic feet.
Gold and Silver Prices Experience Slight Changes
The price of gold for February delivery rose by $1.80, reaching $2,017.80 per ounce. Silver for March delivery also saw a slight increase of 4 cents, reaching $22.93 per ounce. On the other hand, March copper prices fell by 2 cents, reaching $3.87 per pound.
Foreign Exchange Rates
The dollar strengthened against the Japanese yen, rising to 147.84 yen from 147.59 yen. Conversely, the euro weakened against the dollar, falling to $1.0835 from $1.0889.
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