Business News

Crude oil loses momentum, closes lower

Motorists flock to lower priced gas stations in Denver on April 15, 2011. UPI/Gary C. Caskey

License photo

Published: Aug. 8, 2012 at 4:24 PM

NEW YORK, Aug. 8 (UPI) -- Crude oil slipped from early gains Wednesday, losing 32 cents to settle at $93.35 a barrel on the New York Mercantile Exchange.

Natural gas prices were off 3 cents, closing at $2.93 per million British thermal units.

Reformulated blendstock gasoline dropped 1 cent to settle at $2.98 a gallon.

Home heating oil was up 2 cents to close at $3.02 a gallon.

At the pump, the average cost for a gallon of regular unleaded gasoline was $3.647 Wednesday, up from $3.634 on Tuesday, AAA reported.

Most Popular Collections

'Star Trek Into Darkness' screening	NBC upfronts	Met Ball 2013
'Great Gatsby' premieres in New York	Spire raised on top of One WTC	2013: Celebrity break ups and divorces

Additional Business News Stories
Energy Resources Oettinger: EU studying 'fracking' as it seeks to cut energy prices BRUSSELS, May 22 (UPI) -- The European Union will carefully weigh the risks of shale gas development this year but also needs to stem high energy prices, the EU's energy chief says. Obama threatens Keystone XL veto U.S. senators hear mixed assessment of shale Canada's west coast readies for LNG exports Moniz open to considering LNG exports	Security Industry Unspent billions of Chilean defense fund remain a mystery SANTIAGO, Chile, May 21 (UPI) -- More than $4 billion of cash reserved for Chilean military procurement remains unspent because of mysterious workings of funding arrangements. Oman to buy $2.1B Raytheon missile system Ukraine destroys Soviet-era missiles Northrop tapped for laser development Netherlands seeks continued F-16 training
Real Estate Foreclosure processing time at new high Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous... Altos: No sign of single family rental weakness -- yet CB Previews International draws the line on pocket listings Americans exit the housing crisis with new appreciation for renting Real Estate: Nothing to fear from zombie houses	Analysis: Economic Outlook This resembles austerity Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda. Fed shows it's human The name of the game The key to Keystone Mergers are us