NEW YORK, Jan. 23 (UPI) -- The price of crude oil slipped under $96 Wednesday, dropping on the International Monetary Fund's release of a forecast for slower global growth.
Gains in equities and a weak dollar are supporting prices, but the IMF released fresh projections for 2013, which was little changed around the globe from its October prediction -- except in the eurozone, which is now expected to contract slightly this year.
By the end of the session, oil had dropped 93 cents to reach $95.67 a barrel on the New York Mercantile Exchange.
Gasoline added 3.31 cents to $2.8521 a gallon.
Home heating oil dropped 0.21 cents to $3.06 a gallon.
Natural gas gained 0.2 cent to $3.572 per million British thermal units.
At the pump, AAA reported the national average price for regular unleaded gasoline rose to $3.316 per gallon from Tuesday's $3.31.
|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.