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Crude oil clears $106, then settles

May 1, 2012 at 8:19 PM   |   Comments

NEW YORK, May 1 (UPI) -- The price of crude oil topped $106 per barrel Tuesday, then settled, as stocks on Wall Street closed higher, but lost early momentum in late trading.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for June delivery peaked at $106.03 per barrel before sliding modestly to $105.85. Natural gas added 0.3 cents in late trading to $2.374 per million British thermal units.

Home heating oil was up 2.9 cents to $3.18 per gallon.

Gasoline, also up 2.9 cents, hit $3.10.

At the pump, the national average price of unleaded gasoline dropped to $3.809 per gallon from Monday's $3.816, AAA said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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