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Crude oil tops $93

March 20, 2013 at 9:52 PM   |   Comments

NEW YORK, March 20 (UPI) -- The price of crude oil Wednesday climbed above $93 per barrel in New York with uncertainty hanging over the eurozone.

Lawmakers in Cyprus have rejected a proposal to tax bank deposits to assist in a bailout for the country's troubled banks. That has slowed a run toward the U.S. dollar, but also put a $13 billion bailout package in jeopardy.

Traders anticipate the U.S. Federal Reserve will continue its accommodating monetary policy with an announcement expected Wednesday afternoon.

On the New York Mercantile Exchange, West Texas Intermediate crude oil added 84 cents to reach $93.247 per barrel. Gasoline added 3.86 cents to $3.0925 per gallon. Home heating oil gained 10.39 cents to reach $2.9907 a gallon.

Natural gas held steady at $3.955 per million British thermal units.

At the pump, a gallon of regular unleaded gasoline was $3.697 Wednesday, up from Tuesday's $3.692, the AAA 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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