NEW YORK, Aug. 30 (UPI) -- Crude oil prices slid under $95 a barrel Thursday after the U.S. Energy Information Administration said stockpiles of crude oil rose in the week.
In the week ending Saturday, crude oil inventories rose by 3.8 million barrels to 364.5 million.
Stockpiles held above the upper limit of the average range for this time of year.
Earlier this week, finance ministers from the Group of Seven nations said they would keep markets amply supplied.
The group encouraged oil producing countries to increase output, if necessary, and said they were ready to draw on strategic oil reserves to keep the market stable.
On the New York Mercantile Exchange Thursday, West Texas Intermediate crude oil for October delivery shed 84 cents to $94.74 per barrel. Natural gas gave added 1.5 cents in late trading to $2.763 per million British thermal units.
Home heating oil added 0.47 cents to $3.138 per gallon. Reformulated blendstock gasoline gained 0.58 cents to $2.9138 per gallon.
At the pump, the average price for a gallon of regular unleaded gasoline was $3.804 per gallon Wednesday, up from Tuesday's $3.756, AAA reported.
|Additional Business News Stories|
BUENOS AIRES, May 21 (UPI) --To the joy of neighboring rivals, Argentina's beef exports are dwindling and traders blame government policies.
MUSCAT, Oman, May 21 (UPI) --The Persian Gulf sultanate of Oman is set to buy a $2.1 billion missile system built by the U.S. Raytheon Co. as part of a U.S. drive to install a coordinated air-defense system linking the region's Arab monarchies to counter Iran.