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U.S. markets recover from steep losses
NEW YORK, July 11 (UPI) -- Crude oil prices eased back after setting a record above $147 per barrel on the New York Mercantile Exchange Friday.
Oil prices gained on tensions in the Middle East and Nigeria.
British Prime Minister Gordon Brown voiced support for the Nigerian government, sparking a threat of violence from a rebel group, The Wall Street Journal reported.
Tension in the Middle East over a possible strike against Iran for its nuclear program have also added to supply jitters.
On the New York Mercantile Exchange, crude oil prices settled at $144.81 late in the day. The price of heating oil fell 0.0006 cents in late trading to $4.076 per gallon. Reformulated blendstock gasoline prices fell 0.0077 cents to $3.5555 per gallon. Natural gas prices fell 0.048 cents to $11.856 per million British thermal units.
At the pump, the national average price for a gallon of unleaded gasoline dropped 0.008 cents Friday to $4.096 per gallon, AAA said.
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