The price of oil fell below
Benchmark U.S. crude for June delivery fell
Brent crude, a benchmark for international oil used by many U.S. refineries, rose
Oil slipped after the Federal Reserve said Thursday that U.S. industrial production dropped in April. The decline in activity, along with weak retail sales data released earlier in the week, suggested demand for U.S. crude may not be as strong as expected.
Also, stockpiles of oil rose by 900,000 barrels last week, while analysts had been expecting a drop.
A stronger dollar also weighed on prices, making crude priced in dollars more expensive — and a less attractive investment — for traders using other currencies.
Brent crude was lifted by the continued absence of Libyan crude from the market as a result of disputes at export terminals, and a forecast for higher global demand by the
The average retail price of gasoline rose less than a penny to
In other energy futures trading in
— Wholesale gasoline fell
— Natural gas rose
— Heating oil fell
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