NEW YORK, March 4 (UPI) -- Crude oil prices remained elevated Thursday morning after the previous run up above $81 per barrel despite rising U.S. inventories.
The Energy Information Administration said U.S. stockpiles rose by 4.1 million barrels in the week ending Feb. 26. Gasoline inventories rose by 700,000 barrels.
With spring and increased driving around the corner, a build up in inventories is expected.
After Wednesday's jump, prices were headed lower Thursday. April delivery light, sweet crude oil shed 39 cents on the New York Mercantile Exchange to $80.70 per barrel. Heating oil prices lost 0.0069 cents to $2.0868 per gallon. Reformulated gasoline prices lost 0.0076 cents to $2.24 per gallon. Natural gas prices lost 0.032 cents to $4.725 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.706 per gallon Thursday, up from Wednesday's $2.703, AAA said.
