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U.S. crude rises $1, pushes back above $108/bbl

Published 04/14/2011, 10:41 AM
Updated 04/14/2011, 10:44 AM
BIG
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NEW YORK, April 14 (Reuters) - U.S. crude extended its bounce to rise more than $1 and push back above $108 a barrel on Thursday in choppy trading on lift from weaker dollar that was hit by data showing rising jobless claims and after crude futures bounced off support found above the $105 level.

Early support was provided by strong U.S. gasoline futures, a day after data showed a big drop in U.S. stockpiles.

On the New York Mercantile Exchange, May crude rose 87 cents, or 0.81 percent, to $107.98 a barrel by 10:38 a.m. EDT (1438 GMT), trading from $105.77 to $108.16. (Reporting by Robert Gibbons; Editing by John Picinich)

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