Crude oil prices rebound Tuesday

New York -- Crude oil prices rebounded Tuesday, topping $82 per barrel after the Federal Reserve elected to keep interest rates at historic lows.

Traders are also concerned with an Organization of Petroleum Exporting Countries meeting in Vienna that convenes Wednesday. On Tuesday, the Fed left bank-to-bank lending rates at zero to 0.25 percent, which gave equities and commodities a boost.

April delivery of light, sweet crude oil gained $2.27 to $82.07 per barrel on the New York Mercantile Exchange. Heating oil prices added 0.0674 cents to $2.125 per gallon. Reformulated gasoline blendstock prices picked up 0.0622 cents to $2.285 per gallon. Henry Hub natural gas prices lost 0.054 cents to $4.337 per million British thermal units.

At the pump, the national average price of unleaded gasoline was $2.787 per gallon Tuesday, down from Monday's $2.79, AAA said.

Copyright 2010 United Press International

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