Crude oil prices continue their downward journey, move closer to $85 per barrel

Crude oil prices continue their downward journey, move closer to $85 per barrelAfter the Energy Information Administration said that stockpiles rose last week, Crude oil for May delivery held under $86 per barrel in New York on Thursday.

It was announced by the officials that U. S. crude oil inventories rose by 2 million barrels in the week ending April 2, while gasoline inventories fell by 2.5 million barrels.

On the New York Mercantile Exchange, the price of May delivery lost 34 cents from a prior settlement to $85.54 per barrel.

Loosing 0.0097 cents, front-month contract heating oil futures for May delivery ended the day at $2.2342 per gallon.

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Reformulated gasoline blend-stock dropped 0.0142 cents to $2.3005 per gallon.

Henry Hub natural gas prices shed 0.083 cents to $3.936 per million British thermal units.

According to the reports of AAA, at the pump, the national average price for a gallon of unleaded gasoline rose to $2.856 per gallon Thursday from Wednesday's $2.844. (With Inputs from Agencies)