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Crude oil falls $1.09 a barrel

April 4, 2013 at 6:56 PM   |   Comments

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NEW YORK, April 4 (UPI) -- Crude oil prices dropped $1.09 to $93.36 per barrel Thursday on the New York Mercantile Exchange with traders focused on high supplies.

The U.S. Energy Information Administration reported Wednesday crude oil supplies rose 2.7 million barrels to 388.6 million for the week ended March 29.

That was more than expected and put stockpiles at the highest level since July 1990.

Gasoline prices lost 2.07 cents to reach $2.8993 a gallon.

Home heating oil hit $2.9693 a gallon, shedding 3.07 cents

Natural gas gained 4.7 cents to $3.947 per million British thermal units.

At the pump, the average price of a gallon of regular unleaded gasoline was $3.636 Thursday, down from $3.64 Wednesday, 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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