Crude oil settles at $91.16 a barrel

NEW YORK, June 24 (UPI) -- Crude oil prices recovered by the close of the trading session on the New York Mercantile Exchange Friday, settling at $91.16 a barrel.

Intraday trading saw a barrel of crude dip to less than $90 for the first time in four months. For the week, oil lost 2 percent.

The United States and 27 nations of the International Energy Agency said they would draw down their reserves in the next 30 days to offset a loss of roughly 1.5 million barrels a day on the market due to political chaos in Libya.

Natural gas added 4 cents to settle at $4.23 per million British thermal units.

Gasoline lost 6 cents to $2.78 a gallon.

Home heating oil also was off, settling at $2.75 a gallon, down 3 cents.

At the pump, the national average price of unleaded gasoline dropped to $3.601 per gallon from Thursday's $3.612, AAA said.