Crude gains for first time in three days

Prices register minor weekly gains Crude futures ended higher on Friday, 20 April 2012 at Nymex breaking a two-day losing streak and notching modest weekly gains as the dollar fell on an upbeat German economic survey and U.S. corporate news spurred hopes for more oil demand. Lighty and sweet crude for delivery in May rose 78 cents, or 0.8%, to $103.05 a barrel on the New York Mercantile Exchange. The contract expired at the end of floor trading Friday. On the week, prices climbed 0.2%. On Friday, the dollar pushed lower against major rivals as European stocks moved higher after Germany's Ifo Institute said its business-confidence gauge edged up to 109.9 in April from 109.8 in March, defying expectations for a pullback. That boosted the euro and sent the greenback lower. In the currency market, the dollar which weighs the strength of the dollar against a basket of six other currencies fell by 0.31%. Among other energy products, May gasoline turned lower, and ended off 1 cent, or 0.14, to $3.14 a gallon. May heating oil added 1 cent, or 0.4%, to $3.14 per gallon. Gasoline futures lost 6.1% on the week, while heating oil declined 1.2% May natural gas gained 2 cents, or 1.1%, to settle at $1.93 per million British thermal units. On the week, however, prices declined 2.5%.