facebook
twitter
rss
account
search
search
 

Crude oil price slides on IMF forecast

Jan. 23, 2013 at 6:45 PM   |   Comments

| License Photo
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.

© 2013 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.
Most Popular
1
Pakistan seeks coastal patrol cutters from U.S. Pakistan seeks coastal patrol cutters from U.S.
2
Gas capacity added to North Dakota shale Gas capacity added to North Dakota shale
3
Oryx Petroleum: Security improves in Kurdish north Oryx Petroleum: Security improves in Kurdish north
4
WTI, Brent take big hits in Friday trading WTI, Brent take big hits in Friday trading
5
U.S. producers say study backs end of oil export ban U.S. producers say study backs end of oil export ban
Trending News
Around the Web
x
Feedback