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Crude oil holds under $92

Oct. 15, 2012 at 6:35 PM   |   Comments

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WASHINGTON, Oct. 15 (UPI) -- Crude oil prices held under $92 per barrel Monday on the New York Mercantile Exchange.

Tensions in the Middle East are adding support to crude oil prices, but concern over struggling economies is pushing prices down. Markets are also skittish due to an upcoming election in which the outcome is far from clear.

On Monday, equity markets started with gains. But market uncertainty is bound to be an overriding theme at least until the Nov. 6 national election.

West Texas Intermediate crude for November delivery in New York gave up 12 cents to $91.74 per barrel.

Natural gas prices shed 1.26 cents to $3.485 per million British thermal units. Home heating oil lost 1.7 cents to $3.2069 per gallon. Reformulated blendstock gasoline dropped 3.76 cents to $2.8552 per gallon.

At the pump, the average price for a gallon of regular unleaded gasoline was $3.787 per gallon, down from Sunday's $3.794, 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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