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Stockpile gain holds crude in check

Jan. 25, 2013 at 5:45 PM   |   Comments

NEW YORK, Jan. 25 (UPI) -- The price of crude oil climbed slightly in New York overnight, with gains held just more than $96 per barrel Friday by an inventory increase.

The Energy Information Administration said in a delayed weekly report that crude oil stockpiles had increased 2.8 million barrels in the week ending Jan 18. Stockpiles rose to 363.1 million barrels, which was described as "well above the upper limit of the average range for this time of year."

On the New York Mercantile Exchange, West Texas Intermediate crude oil added 16 cents to $96.06 per barrel. Gasoline added 1.76 cents to $2.8851 a gallon. Home heating oil shed 1.51 cents to $3.0589 a gallon.

Natural gas lost 2.4 cent to $3.445 per million British thermal units.

At the pump, AAA reported the national average retail price for regular unleaded gasoline rose to $3.331 per gallon from Thursday's $3.321.

© 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.
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