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Oil prices close down after seesaw day

Jan. 18, 2011 at 4:09 PM   |   Comments

NEW YORK, Jan. 18 (UPI) -- Crude oil prices seesawed during trading on the New York Mercantile Exchange Tuesday, dropping 16 cents before settling at $91.38 per barrel.

Intraday trading saw crude oil prices fluctuate, trading as low as $90.48 earlier in the session.

Also pressuring oil prices was the Monday reopening of the Trans-Alaska Pipeline after it was out of service for 10 days, MarketWatch.com reported.

Other energy commodities were mixed Tuesday, with natural gas closing down 5 cents to $4.43 per million British thermal units.

Gasoline lost 2 cents to finish the day's trading at $2.48 a gallon.

Heating oil gained less than a penny to settle at $2.65 a gallon.

At the pump, the price for a gallon of unleaded gasoline was $3.10, up slightly from $3.096 on Monday, AAA Fuel Gauge Report said.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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