Money Matters - Simplified

Crude oil prices climb Friday morning

New York -- Crude oil prices rolled higher Friday morning in New York, adding 99 cents to $81.55 per barrel, with the dollar index flat, off 0.04 percent.

Currency exchange rates are expected to be a key debate point for financial leaders of Group of 20 Nations meeting in Seoul this weekend. But an agreement on a lofty proposal by U.S. Treasury Secretary Timothy Geithner to link trade surpluses to exchange rates with a specific formula is unlikely to find consensus. Several nations with trade surpluses have already voiced disapproval of the concept.

On the New York Mercantile Exchange, heating oil prices added 2.09 cents overnight to $2.2539 per gallon. Reformulated blendstock gasoline prices added 2.22 cent to $2.0522 per gallon.

Henry Hub natural gas prices rose 0.4 cents to $3372 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $2.827 per gallon from Thursday's $3.831, AAA said.

Copyright 2010 United Press International, Inc. (UPI).

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