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U.S. markets recover from steep losses
NEW YORK, Aug. 25 (UPI) -- Crude oil prices recovered some ground in New York Wednesday with light, sweet crude oil for October delivery adding 26 cents to reach $72.78 per barrel.
Oil prices Tuesday dipped to a two-month low, with economic data pointing to a stalled economic recovery. The Commerce Department said Wednesday new home sales fell 12.4 percent in July compared to June but equity markets recovered from early losses to post modest gains by the close of trading.
Heating oil prices Wednesday added 0.0052 cents to $1.9908 per gallon. The price of reformulated blendstock gasoline gained 0.0061 cents to $1.835 per gallon, while natural gas prices rose 0.036 cents to $3.907 per million British thermal units.
At the pump, the national average price for unleaded gasoline was $2.696 per gallon, down from Tuesday's $2.702, AAA said.
The average price at gas stations is close to matching the $2.623 average price from a year ago.
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