
NEW YORK, April 17 (UPI) -- Crude oil prices overtook $104 per barrel Tuesday in New York as traders reacted to news that the 512-mile Seaway pipeline would change direction in May.
Enterprise Products Partners LP said it was aiming for May 17, not June 1, for the time to turn the direction of the flow of oil in the pipeline toward the East Coast from Cushing, Okla.
The move narrowed the per barrel pricing gap between West Texas Intermediate crude oil, priced in New York and Brent crude oil, which is priced in London.
Brent crude for June delivery was priced at $118.78 a barrel Tuesday. WTI crude oil for May delivery in New York, on a two-day upswing, added 90 cents to reach $104.29 per barrel on the New York Mercantile Exchange.
Home heating oil prices shed 1 cent to $3.1265 per gallon. Reformulated blendstock gasoline lost 4.9 cents to $3.2291 per gallon.
Natural gas prices added 2.5 cents to $1.95 per million British thermal units.
At the pump, the national average price of unleaded gasoline, unchanged from Sunday to Monday, dropped to $3.904 per gallon Tuesday from $3.907, AAA said.
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ERBIL, Iraq, June 19 (UPI) --
Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
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RIYADH, Saudi Arabia, June 19 (UPI) --
Britain's BAE Systems, Europe's biggest defense company, reportedly expects to wrap up a price deal with Saudi Arabia for 72 Eurofighter Typhoon combat jets after two years of tortuous negotiations.
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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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