facebook
twitter
rss
account
search
search
 

Crude oil prices climb on drawdown

Aug. 15, 2012 at 6:52 PM   |   Comments

NEW YORK, Aug. 15 (UPI) -- Crude oil topped $94 per barrel Wednesday on the New York Mercantile Exchange, as U.S. inventories dropped further than expected.

The Energy Information Administration said U.S. stockpiles decreased by 3.7 million barrels in the week to 366.2 million barrels. Supplies remain above the upper limit of the average range for this time of year, but the draw was expected to be 1.7 million barrels.

West Texas Intermediate crude oil for September delivery in New York added $1.23 to $94.34 per barrel. The natural gas price was 1.6 cents higher at $2.764 per million British thermal units.

Home heating oil was up 0.1 percent at $3.0884 per gallon.

Reformulated blendstock gasoline dropped 0.34 percent to reach $3.0735 a gallon.

At the pump, the average price for a gallon of regular unleaded gasoline was $3.709 Wednesday, up from $3.702 Tuesday, AAA reported.

© 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.
Recommended UPI Stories
Most Popular
1
Northrop Grumman developing reusable space plane for lifting spacecraft into orbit
2
Construction on Russian gas line to China slated for September
3
Navy to test Lockheed Martin's FORTIS exoskeleton
4
Embraer refining KC-390 transport
5
Corona Extra recalled due to glass particles in beer
Trending News
Video
x
Feedback