NEW YORK, June 8 (UPI) -- Crude oil prices hit $101 per barrel Wednesday after the Organization of Petroleum Exporting Countries in Vienna said oil quotas would remain unchanged.
Oil ministers going into the meeting voiced split views on production, with Saudi Arabia and Kuwait pushing for increased production and others, including Iran, opposed to that strategy.
The meeting ended with no agreement to raise production, giving prices in New York a jolt.
On the New York Mercantile Exchange, July delivery West Texas Intermediate crude climbed from $98.53 per barrel to $100.95, up 2.5 percent. Home heating oil lost 0.67 cents to $3.087 per gallon. Reformulated blendstock gasoline prices lost 0.47 cents to 2.974 per gallon.
Henry Hub natural gas lost 0.1 cents to $4.846 per million British thermal units.
At the pump, the national average price of unleaded gasoline dropped to $3.748 per gallon from Tuesday's $3.761, AAA said.
