NEW YORK, Dec. 20 (UPI) -- Crude oil prices found some traction Monday, rising above $89 per barrel despite market-rattling tensions on the Korean Peninsula and a stronger dollar.
South Korea on Monday conducted a military exercise, which lasted 94 minutes. North Korea had issued a series of statements threatening to strike back, considering the exercise on a disputed island near the maritime border to be an incursion into its territory. After the exercise was complete, however, North Korea said in a statement the operation wasn't worth a comment.
The Kospi index in Seoul dropped early, then recovered most of its losses, closing down 0.3 percent.
The dollar index rose 0.29 percent Monday, but energy stocks found support from winter weather's push on demand.
In New York, February contract light, sweet crude oil added 71 cents to $89.31 per barrel. Heating oil prices gained 0.99 cents to $2.4836 per gallon. Reformulated blendstock gasoline added 5.96 cents to reach $2.3774 per gallon.
Henry Hub natural gas prices added 1.65 cents to $4.231 per million British thermal units.
At the pump, the national average price of unleaded gasoline was unchanged at $2.981 per gallon, AAA said.
