Oil Prices Rise as Crude and Gasoline Futures Show Gains

The benchmark U.S. crude oil for February delivery experienced a significant increase of $1.62, reaching $73.81 per barrel on Friday. Similarly, Brent crude for March delivery rose by $1.17, closing at $78.76 per barrel.

Gasoline and Heating Oil Prices Remain Stable

Wholesale gasoline prices for February delivery remained unchanged at $2.11 per gallon. However, February heating oil witnessed a modest increase of 2 cents, reaching $2.61 per gallon. Additionally, February natural gas prices rose by 7 cents, settling at $2.89 per 1,000 cubic feet.

Gold and Silver Prices Experience Mixed Results

Gold prices for February delivery saw a slight decline of 20 cents, closing at $2,049.80 per ounce. Conversely, silver prices for March delivery rose by 13 cents, reaching $23.32 per ounce. On the other hand, March copper experienced a decrease of 3 cents, settling at $3.81 per pound.

Foreign Exchange Rates

The dollar strengthened against the Japanese yen, rising to 144.68 yen from 144.59 yen. Meanwhile, the euro weakened slightly, falling to $1.0943 from $1.0948.