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Nov. 22, 2011 / 6:58 PM

Crude oil heads higher

A motorist pumps gas in Denver on April 15, 2011. UPI/Gary C. Caskey

A motorist pumps gas in Denver on April 15, 2011. UPI/Gary C. Caskey | License Photo

NEW YORK, Nov. 22 (UPI) -- Crude oil prices rebounded in New York Tuesday, heading toward $98 per barrel, while temperatures turned colder in the Northeast.

Political concerns also influenced the market as traders focused on tensions involving Iran's nuclear program, which could lead to supply disruptions.

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On the New York Mercantile Exchange Tuesday, West Texas Intermediate crude oil for January delivery added $1.57 to $97.74 per barrel. Home heating oil prices shed 0.51 cents to $3.0295 per gallon. Reformulated blendstock gasoline lost 1.45 cents to $2.5505 per gallon.

Henry Hub natural gas prices lost 0.3 cents to reach $3.412 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $3.34 per gallon from Monday's $3.351, AAA said.

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