Crude oil finds traction

Nov. 8, 2012 at 6:32 PM

NEW YORK, Nov. 8 (UPI) -- Crude oil prices climbed above $85 per barrel in New York Thursday, pulling out of a pricing tailspin prompted by President Obama's election victory.

West Texas Immediate crude oil for December delivery ducked down as far as $84.44 before turning higher, hitting $85.09 per barrel by the end of Thursday's trading session on the New York Mercantile Exchange.

Reformulated gasoline prices added 1.84 to $2.6073 per gallon. Home heating oil shed 0.67 cents to $2.9554 per gallon.

Natural gas prices added 3 cents to $3.61 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.464 per gallon from Wednesday's $3.462, AAA said.

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