Crude oil up again

The cost of crude oil rose again on Monday as several issues combined to support prices.

The dollar declined versus the euro again, while there was a shortage of one of the ingredients used to make summer grade gasoline.

In addition, a leaky oil pipeline that serves several refineries in the US Midwest had to be closed for repairs, and sabotage reportedly cut oil production at a facility in Nigeria.

West Texas Intermediate crude for May delivery added $1.62 to close at $111.76 per barrel on the New York Mercantile Exchange, while May contracts for Brent crude gained $1.10 to $109.85 per barrel on the ICE Futures Europe exchange in London.

Nymex May gasoline was up a bit less than a cent and a half to $2.82 per gallon while June heating oil gained a cent to $3.20 per gallon and May natural gas was 9 cents higher to $9.99 per million British thermal units.