Crude oil drops on data from China

May 13, 2013 at 7:57 AM

NEW YORK, May 13 (UPI) -- Crude oil prices slipped under $96 per barrel in New York Monday morning as economic data from China indicated easing demand.

Factory production in April and year-to-date fixed asset growth both came up short of expectations in China, which oil traders see as a bellwether for global demand.

On the New York Mercantile Exchange, West Texas Intermediate crude oil shed 77 cents to $95.27 per barrel.

Gasoline prices lost 2.61 cents to $2.8293 a gallon. Home heating oil dropped 1.,65 cents to $2.8883 a gallon. Natural gas added 0.9 cents to reach $3.915 per million British thermal units.

At the pump, the average price of a gallon of regular unleaded gasoline was $3.579 Monday, up from Sunday's $3.576, the AAA Fuel Gauge Report said.

Related UPI Stories
Latest Headlines
Trending Stories
Pepsi to release 'Back to the Future Part II' inspired Pepsi Perfect
Nobel Prize in medicine awarded to parasitic disease scientists
Womb transplants begin in U.K. after Sweden's success
Gay Vatican priest comes out day before Pope Francis begins synod on family issues
Scientists find roadmap that may lead to 'exercise pill'