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U.S. markets recover from steep losses
NEW YORK, Oct. 14 (UPI) -- Crude oil prices held close to $83 per barrel on the New York Mercantile Exchange Thursday, as the dollar index fell 0.71 percent.
The dollar fell against most currencies, dropping to near parity against the Canadian and Australian dollars and pushing the price of gold to a record $1,377.60 per troy ounce.
Oil ministers of the Organization of Petroleum Exporting Countries cartel met in Vienna, deciding to leave production quotas unchanged "given the persisting significant downside risks to world economic recovery."
Going into the meeting, Libyan oil minister Shukri Ghanem said, "We should simply confirm (production quotas) and ask for compliance. I don't think there's much more to be done," Yahoo! News reported.
In New York, November delivery crude oil prices gained 22 cents from a prior settlement to $82.91 per barrel. Heating oil prices rose 0.22 cents to $2.2861 per gallon. Reformulated gasoline prices rose 0.35 cents to $2.14 per gallon. Henry Hub natural gas prices shed lost 0.7 cents to $3.65 per million British thermal units.
At the pump, the national average price of unleaded gasoline rose to $2.828 per gallon Thursday from Wednesday's $2.82, AAA said.
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