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Crude oil tops $92

March 12, 2013 at 9:30 PM   |   Comments

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NEW YORK, March 12 (UPI) -- Crude oil prices topped $92 per barrel Tuesday on the New York Mercantile Exchange, as traders expect bullish stockpile reports this week.

Traders expect refineries will allow inventories to drop in anticipation of spring maintenance projects. The end of winter is a transition period as the demand focus switches from heating oil products to motor gasoline with spring driving ahead.

West Texas Intermediate crude oil for April deliver gained 99 cents to $92.73 per barrel. Gasoline added 0.22 cents to settle at $3.1578 a gallon.

Home heating oil lost 0.44 cents to reach $2.956 a gallon.

Natural gas lost 0.8 cents to hit $3.637 per million British thermal units.

At the pump, the national average price for a gallon of regular unleaded gasoline rose from Monday's $3.696 per gallon to $3.703, 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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