Crude oil gains on week

Oil prices were up on the week ending Friday as new inventory figures showed that crude oil stockpiles were up sharply but gasoline and distillates supplies were down sharply.  At the midway point in Friday’s trading day, April contract West Texas Intermediate crude on the New York Mercantile Exchange was at $63 per barrel, up 5 percent for the week.  Meanwhile, May delivery Brent crude stood at $60.83 per barrel, a 4.4 percent rise since the beginning of the week.

Elsewhere, natural gas prices were up sharply in the UK on colder weather and supply worries.  Last Friday, the same-day delivery price was 75p per therm.  That rose to 255p per therm on Monday, and while prices dropped later in the week, the same-day deliver price this Friday was still 150p per therm.