Crude oil slides under $96

May 9, 2012 at 10:27 AM
| License Photo

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.

Related UPI Stories
Latest Headlines
Trending Stories
Pepsi to release 'Back to the Future Part II' inspired Pepsi Perfect
Nobel Prize in medicine awarded to parasitic disease scientists
Womb transplants begin in U.K. after Sweden's success
Gay Vatican priest comes out day before Pope Francis begins synod on family issues
Scientists find roadmap that may lead to 'exercise pill'