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Crude oil rises above $102

May 31, 2011 at 5:48 PM   |   Comments

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NEW YORK, May 31 (UPI) -- Crude oil prices rose in New York Tuesday after a pipeline feeding a storage center in Oklahoma was shut down for repairs.

A small leak at a pumping station in Kansas caused the temporary closure of the TransCanada Corp. pipeline that transports 591,000 barrels of oil per day.

On the New York Mercantile Exchange, July delivery crude oil gained $1.99 to reach $102.59 per barrel. Home heating oil lost 0.62 cents to $3.0468 per gallon. Reformulated blendstock gasoline shed 0.28 cents to $3.0475 per gallon.

Henry Hub natural gas prices lost 1.4 cents to reach $4.652 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell half a cent to $3.78 per gallon from Monday's 3.785, AAA 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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