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Crude oil dips lower than $92

Oct. 12, 2012 at 5:50 PM   |   Comments

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NEW YORK, Oct. 12 (UPI) -- Crude oil prices dipped to less than $92 per barrel Friday on the New York Mercantile Exchange, hovering at the same level all week.

In a report delayed by Monday's holiday, oil inventories rose by 1.7 million barrels from the previous week to 366.4 million barrels, the U.S. Energy Information Administration said Thursday.

West Texas Intermediate crude for November delivery lost 43 cents to close at $91.64 per barrel.

Natural gas prices shed 0.8 cents to $3.596 per million British thermal units. Home heating oil lost 3.71 cents to $3.22 per gallon. Reformulated blendstock gasoline dropped 6 cents to $2.8956 per gallon.

At the pump, the average price for a gallon of regular unleaded gasoline was $3.81 per gallon, down from Thursday's $3.813, 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.
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