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Crude oil slides under $93

March 21, 2013 at 5:35 PM   |   Comments

NEW YORK, March 21 (UPI) -- The price of crude oil slipped under $93 per barrel Thursday in New York with an inventory report traders viewed as neutral.

The Energy Information Administration said Wednesday oil supplies fell by 1.3 million barrels to 382.7 million in the week ending Friday.

The draw is not unusual for this time of year, however, as refineries seek to lower their inventory just ahead of a traditional period of short-term maintenance project shutdowns.

On the New York Mercantile Exchange, West Texas Intermediate crude oil shed 79 cents to settle at $92.45. Gasoline shed 3.75 cents to $3.055 per gallon. Home heating oil lost 1.45 cents to reach $2.975 a gallon.

Natural gas dropped 2.1 cents to reach $3.934 per million British thermal units.

At the pump, a gallon of regular unleaded gasoline was $3.691 Thursday, down from Wednesday's $3.697, 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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