Crude oil back above $106

July 12, 2013 at 4:01 PM

NEW YORK, July 12 (UPI) -- Crude oil prices topped $106 per barrel in New York despite an announcement by Egypt that political tension there is not a threat to supply lines.

Interim Egyptian Prime Minister Hazem el-Beblawi said the Suez Canal would remain open, enabling oil supplies to pass through, and that next week he would name a new Cabinet, CNN reported.

West Texas Intermediate crude oil gained $1.24 cents to $106.15 per barrel.

Reformulated blendstock gasoline added 9.93 cents to $3.1207 per gallon. Home heating oil gained 4.17 cents to reach $3.367 per gallon.

Natural gas added 3.3 cents to $3.646 per million British thermal units.

At the pump, the average price for a gallon of unleaded regular gasoline was $3.55, up from Thursday's $3.518, the AAA Fuel Gauge report said.

Related UPI Stories
Latest Headlines
Trending Stories
TSU shooting: 1 dead, 1 wounded in third shooting this week at Houston campus
Listeria threat prompts Whole Foods cheese recall
Russia says missiles aimed at Syria did not land in Iran
Captive orca breeding banned at California's SeaWorld
Wrong drug used in Oklahoma execution