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Crude oil moves higher

Aug. 13, 2013 at 4:36 PM   |   Comments

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NEW YORK, Aug. 13 (UPI) -- Crude oil for September delivery moved to more than $106 per barrel in New York Tuesday as strikes resumed in Libya.

Voice of America reported Libya's production has been cut in half by the walkouts.

In the latest development, resuming strikes curtailed operations at two major oil-handling ports, Es Sider and Ras Lanuf, after a brief hiatus, VOA said.

The ports have a daily capacity of handling 600,000 barrels per day.

On the New York Mercantile Exchange, West Texas Intermediate crude added 42 cents to $106.53 per barrel. Reformulated blendstock gasoline gained 4.28 cents to reach $2.9469 per gallon. Home heating oil added 2.1 cents to reach $3.0419 per gallon.

Natural gas added 0.6 cents to $3.316 per million British thermal units.

At the pump, the national average price for a gallon of unleaded regular gasoline was $3.542, down from Monday's $3.549, 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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