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Crude oil steady

Nov. 27, 2012 at 10:49 AM   |   Comments

NEW YORK, Nov. 27 (UPI) -- Crude oil prices held to less than $88 a barrel Tuesday on the New York Mercantile Exchange, failing to make gains in light of a dour economic report.

Light crude oil gave up 7 cents to $87.67 a barrel as the Organization of Economic Cooperation and Development said its 34 members would experience 1.4 percent economic growth in 2013, down from a prediction of 2.2 percent released in May.

In early trading, home heating oil was off 0.91 cents to $3.0503 a gallon while reformulated blendstock gasoline added 0.33 cents to $2.7072 a gallon. Henry Hub natural gas was off 1 cent to $3.858 per million British thermal units.

At the pump, AAA reported regular unleaded gasoline selling for $3.419 per gallon, down from Monday's $3.423.

© 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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