Crude prices rose Thursday from near seven-week lows reached after a U.S. government report showed an increase in the country’s crude oil and gasoline stocks.
Light, sweet crude for May delivery was up 28 cents at $50.50 per barrel by afternoon in Europe on the New York Mercantile Exchange. Heating oil was up more than 2 cents at $1.4640 a gallon, while unleaded gas rose less than half a cent to $1.4880 a gallon. In London, Brent crude was up 47 cents at $50.95 on the International Petroleum Exchange.