Crude oil fell for February delivery rose slightly after five days of decline on the New York Mercantile Exchange, going up by 19 cents per barrel or 0.51% to settle at $37.78.  

In London on the ICE Futures Europe exchange, Brent crude for February settlement rose $2.18, or 5.1 percent, to close at $45.09 a barrel.

Gasoline futures for February delivery rose 6.48 cents, or 5.98% to settle at $1.14 a gallon in New York yesterday. Heating oil for February rose 4.17 cents, or 2.83%, to end the session at $1.51 a gallon.

At the pump, the average per-gallon price for gasoline nationwide declined 0.2 cents to $1.79 a gallon, according to the AAA Daily Fuel Gauge Report. Residents of Alaska can expect to find the most expensive gas, with a statewide average of $2.51 per gallon, while residents of Wyoming can expect to pay around $1.45 per gallon.

Fuel prices have dropped a total of 56% from record-breaking prices of $4.11 a gallon reached on July 17.

Oil drilling in the U.S. is up 19% over last year according to API, with an estimated 16,451 oil wells and natural gas wells completed at the end of 2008’s fourth quarter, according to API’s 2008 Quarterly Well Completion Report: Fourth Quarter. The primary target for domestic drilling is natural gas.  

Also on the NYMEX, gasoline futures rose 2.98 cents to $1.11 a gallon. Natural gas for February delivery fell 35.8 cents to settle at $5.184  per 1,000 cubic feet, a decline of around 7%.

Gold for February delivery fell for the second day in a row to settle down 0.02%, or 20 cents at $820.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold has lost an estimated 7% or $60 per ounce so far this year due to a strong dollar.