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Crude oil ducks under $96

Feb. 7, 2013 at 6:37 PM   |   Comments

NEW YORK, Feb. 7 (UPI) -- Crude oil slipped under $96 per barrel after the U.S. Energy Information Administration said stockpiles rose in the week ending Friday.

The EIA said inventories remain well above the average range for this time of year at 371.7 million barrels. The increase came in below expectations, however, giving prices a temporary setback Wednesday afternoon.

The dollar added more pressure with the dollar index up 0.63 percent to 80.24 on the International Exchange.

West Texas Intermediate crude oil for March delivery lost 90 cents to $95.94 per barrel Thursday on the New York Mercantile Exchange.

Reformulated blendstock gasoline lost 3.43 cents to $3.0169 per gallon. Heating oil added 2.85 cents to $3.215 per gallon.

Natural gas gave up 13.7 cents to $3.296 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.555 per gallon from Wednesday's $3.546 per gallon, AAA said.

© 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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