facebook
twitter
rss
account
search
search
 

Crude oil rebounds past $91

Oct. 4, 2012 at 5:40 PM   |   Comments

| License Photo
NEW YORK, Oct. 4 (UPI) -- Crude oil prices jumped past $91 per barrel Thursday in a correction from the previous session's sharp downturn.

Crude oil dropped nearly $4 Wednesday after key business indexes showed activity slowing in China's and Europe's service sectors.

That looked to be an overreaction by Thursday morning, especially after the Energy Information Administration said U.S. inventories were down by 3.6 million barrels in the week.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for November delivery added $3.48 or 3.95 percent to $91.62 per gallon. Natural gas prices gained 0.02 cents, 0.62 percent, to $3.416 per million British thermal units. Home heating oil added 11.02 cents to $3.1766 per gallon. Reformulated blendstock gasoline gained 13.35 cents to $2.933 per gallon.

At the pump, the average price for a gallon of regular unleaded gasoline was $3.784 per gallon, up from Wednesday's $3.782, 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.
Most Popular
1
Some iPhone users getting checks for liquid damage Some iPhone users getting checks for liquid damage
2
Boeing announces job relocations, business unit consolidation Boeing announces job relocations, business unit consolidation
3
Outrage over FERC decision on LNG exports Outrage over FERC decision on LNG exports
4
Coca-Cola company, other soda makers, pledge to cut calories Coca-Cola company, other soda makers, pledge to cut calories
5
Thailand requests FMS sale of Lakota helicopters Thailand requests FMS sale of Lakota helicopters
Trending News
x
Feedback