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Crude oil slides under $96

May 9, 2012 at 10:27 AM   |   Comments

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WASHINGTON, May 9 (UPI) -- The price of crude oil in New York slid back under $96 per barrel Wednesday, as energy prices were balanced on supply expectations.

West Texas Intermediate crude oil for June delivery gave up $1.28 per barrel to $95.73 overnight, as traders expect the Energy Information Administration to announce a supply build up in an afternoon report.

Natural gas added 5.2 cents to $2.444 per million British thermal units on an EIA prediction that demand would increase 5 percent from 2011 to 2012.

Home heating oil lost 1.41 cents to $2.976 per gallon on expectations of a slight supply increase.

Reformulated blendstock lost 0.22 cents to $2.9922 per gallon.

At the pump, the national average price of unleaded gasoline dropped from Tuesday's $3.763 per gallon to $3.75, 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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