Oil prices bounce back near $86

AP News
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Posted: Jul 11, 2012 3:48 PM
Oil prices bounce back near $86

NEW YORK (AP) — The price of oil rose more than 2 percent Wednesday after the Federal Reserve released a report that signaled it may take further steps to lift the economy.

Here's a breakdown of how energy prices traded.

On the New York Mercantile Exchange:

— Crude rose by $1.90 to end the day at $85.81 per barrel;

— Gasoline rose by 2.2 cents to end at $2.7689 per gallon;

— Heating oil added 4.23 cents to finish at $2.7618 per gallon;

— Natural gas increased by 11.6 cents to finish at $2.853 per 1,000 cubic feet.

On the ICE futures exchange:

— Brent crude increased by $2.26 to finish at $100.23 per barrel.