NEW YORK, Jan. 2 (UPI) -- Crude oil prices hovered near $93 per barrel Wednesday in New York, energy prices jumping in reaction to a tax deal announced in Washington.
The reaction is largely one of relief, as Congress increased the tax rate for couples earning $450,000 or more per year, but left taxes low for the middle class.
The bill also dodges a default budget that was considered a "fiscal cliff," given the spending cuts and tax hikes were predicted to send the U.S. economy back into a recession.
On the New York Mercantile Exchange, West Texas Intermediate crude oil for February delivery added 95 cents to $92.80 per barrel. Home heating oil for February added .92 cents to $3.041 a gallon. Reformulated blendstock gasoline added 3.61 cents to $2.7978 a gallon.
Natural gas prices held steady at $3.225 per million British thermal units.
At the pump, AAA reported the national average price for regular unleaded gasoline slipped to $3.291 per gallon from Tuesday's $3.292.
|Additional Business News Stories|
WASHINGTON, May 23 (UPI) --U.S. President Barack Obama was the last obstacle to getting the Keystone XL oil pipeline built through the country, the chairman of a House committee said.