NEW YORK, Dec. 10 (UPI) -- Crude oil prices slipped under $86 per barrel in New York Monday in what traders are finding is a well-supplied market.
The U.S. Energy Information Administration said in a recent report oil production in Texas and North Dakota surged in September, rising 16 percent over September 2011 or by 900,000 barrels to 6.5 million barrels a day. That is the highest domestic production rate since January 1998.
On the New York Mercantile Exchange, West Texas Intermediate crude oil dropped 32 cents to $85.61 per barrel. Home heating oil lost 0.83 cents to reach $2.907 a gallon. Reformulated blendstock gasoline shed 0.81 cents to $2.5592 a gallon. Natural gas fell 11.4 cents to $3.431 per million British thermal units.
At the pump, AAA reported a national average price for regular unleaded gasoline at $3.34 per gallon, down from Sunday's $3.347.
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TEL AVIV, Israel, May 17 (UPI) --Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.