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Crude oil rebounds past $91

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With his keys dangling, a driver watches the pump as his car is filled at a lower priced gas station in Denver on April 15, 2011. Gas and food price increases will affect the nation's economic growth in the coming months. Consumers paid an average price of $3.78 a gallon nationwide on Thursay according to the travel group AAA. UPI/Gary C. Caskey
With his keys dangling, a driver watches the pump as his car is filled at a lower priced gas station in Denver on April 15, 2011. Gas and food price increases will affect the nation's economic growth in the coming months. Consumers paid an average price of $3.78 a gallon nationwide on Thursay according to the travel group AAA. UPI/Gary C. Caskey 
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Published: Oct. 4, 2012 at 5:40 PM

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.

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