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.
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