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Gallup: Family of four needs an average $58,000 a year
NEW YORK, Nov. 8 (UPI) -- Crude oil prices headed higher Tuesday, hitting $97 per barrel on the New York Mercantile Exchange.
West Texas Intermediate crude oil added $1.48 to reach $97, extending a defiant rally that began in early October.
Bellwether crude oil prices have gained $20 per barrel in the past 30 days, despite persistently disappointing economic data and continued confusion in Europe, where heads of state are trying to prop up a weakening euro.
Further confounding the oil market, "Demand for gasoline is down in the United States by 4 percent compared to last year, but global demand has more than made up for that," Tom Kloza, chief oil analyst for Oil Price Information Service in New Jersey, told CNNMoney.
Kloza said "blame South America " where demand has increased in 2011.
In New York Tuesday, home heating oil for December delivery added 2.2 cents to $3.122 per gallon. Reformulated blendstock gasoline lost 1.28 cents to $2.7154 per gallon.
With traders expecting cooler weather, Henry Hub natural gas prices added 4.9 cents to $3.745 per million British thermal units.
At the pump, the average price of unleaded gasoline rose to $3.414 per gallon Tuesday from Monday's $3.407, AAA said.
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| Additional Business News Stories | |
SAN ANTONIO, May 20 (UPI) --
BP has take "a significant step" toward selling a California oil refinery and regional retail networks to Tesoro Corp. after getting U.S. federal approval.
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WASHINGTON, May 20 (UPI) --
Commercial space activities may soon utilize a NASA launch pad at the Kennedy Space Center in Florida that was designed for the Apollo space program.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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