Oil prices jumped Thursday, topping $55 a barrel, as traders disregarded U.S. government figures showing a large increase in crude inventories, but a drop in gasoline stocks ahead of the driving season.
Light, sweet crude on the New York Mercantile Exchange was up $1.07 at $55.05 a barrel by afternoon in Europe. Heating oil rose more than 2 cents to $1.6325 a gallon, while unleaded gasoline also rose more than 2 cents to $1.6215 a gallon .
