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"We've fallen pretty hard, pretty quickly" and many investors are jumping back in on the expectation that prices are headed higher, said Peter Donovan, a broker with Vantage Trading. Benchmark crude added $1.84 to finish at $103.31 per barrel. Brent crude increased by $1.09 to end at $123.43 per barrel. Donovan also noted that the New York Mercantile Exchange is closed for Good Friday, and investors tend to buy oil futures contracts ahead of long weekends. They do so as an insurance policy against any military action, offshore spill or other development that would constrict world supplies and push the price of oil higher, he said. The government also is scheduled to release a new jobs report Friday that could show another increase in the number of working Americans. A growing workforce usually means more cars commuting daily. That could push gasoline and oil demand higher. Retail gasoline prices rose by nearly a penny to $3.936 per gallon, according to auto club AAA, Wright Express and Oil Price Information Service. The national average is the highest ever for this time of year, and analysts say it could rise as high as $4.35 per gallon by the end of April. Gasoline is the highest in Hawaii at $4.604 per gallon and the cheapest in Montana at $3.724 per gallon. In other energy trading, heating oil was almost a penny higher, finishing at $3.1692 per gallon while gasoline futures rose slightly to end at $3.3405 per gallon.
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