NEW YORK, May 16 (UPI) -- Crude oil prices dropped to under $93 a barrel on the New York Mercantile Exchange Wednesday as U.S. stockpiles grew by 2.1 million barrels in the week.
It was the eighth consecutive week of an inventory buildup, putting total supplies at 381.6 million barrels.
In New York, West Texas Intermediate crude oil for June delivery shed $1.11 cents to $92.87 per barrel, the lowest price since December. Natural gas for June delivery rose 0.2 cents to hit $2.62 per million British thermal units.
Home heating oil was down 0.75 cents to $2.8901 per gallon.
Gasoline lost 0.85 cents to reach $2.9124 per gallon.
At the pump, the national average price of unleaded gasoline rose Tuesday to Wednesday from $3.727 per gallon to $3.728, AAA said.
|Additional Business News Stories|
NEW DELHI, May 20 (UPI) --The US Department of Energy's conditional approval a Texas liquefied natural gas terminal to export to nations that do not have a free trade agreement with the United States is seen as a potential boost for India's energy security.
TEL AVIV, Israel, May 20 (UPI) --Israel's high-tech defense industry leads the world in exporting unmanned aerial vehicles.