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Crude oil price dives to $93 a barrel

Feb. 21, 2013 at 6:39 PM   |   Comments

NEW YORK, Feb. 21 (UPI) -- The price of a barrel of crude oil dropped sharply Thursday, slipping to $93 per barrel after equities fell in the previous trading session.

Equities fell after the U.S. Federal Reserve noted in meeting minutes that some of its policy makers didn't stand behind its asset purchasing program, which is adding liquidity to financial markets.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for April delivery lost $1.72 to $93.02 per barrel. Gasoline prices on the exchange added 17.9 cents to $3.2361 per gallon.

Heating oil lost 4.92 cents to $3.0999 per gallon. Natural gas gave up 2.6 cent to $3.242 per million British thermal units.

At the pump, the national average price for a gallon of regular unleaded gasoline rose to $3.778 per gallon from Wednesday's $3.766, the AAA Daily Fuel Gauge Report 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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