Business News

Crude oil prices slide on inventory lift

Published: April 18, 2012 at 5:55 PM

NEW YORK, April 18 (UPI) -- Crude oil prices slipped under $103 per barrel Wednesday in New York as U.S. stockpiles rose by 3.9 million barrels in the week to 369 million.

Anticipation of increased supplies weighed on pricing.

West Texas Intermediate crude oil for May delivery lost $1.42 on the New York Mercantile Exchange to $102.78 per barrel.

Home heating oil prices added 0.49 cents in late trading to $3.1231 per gallon. Reformulated blendstock gasoline gained 0.92 cents to $3.1581 per gallon.

Natural gas prices shed 0.3 cents to $1.948 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $3.899 per gallon Wednesday from Tuesday's $3.904, AAA said.

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