Weak USD helps oil prices

Crude oil prices were up in New York trade on Friday despite more bad economic news, including a Labor Department report that the US economy lost 651,000 more jobs in February.

Prices, which have gone up since it was reported that US inventories lost 700,000 barrels of crude last week, were helped by a weaker US dollar that made oil a less expensive, more attractive investment to those investors buying in currencies other than the greenback.

April contracts for West Texas Intermediate crude added $1.91 to $45.52 per barrel on the New York Mercantile Exchange on the session, but at last report Brent crude for April delivery was 13 cents lower to $43.51 per barrel on the ICE Futures Europe exchange in London.

Nymex April gasoline futures added 2 cents to $1.33 per gallon and April heating oil was up 7 cents to $1.23 per gallon, but April natural gas dropped 15 cents to $3.93 per million British thermal units in New York.