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Crude oil tops $107

Aug. 15, 2013 at 3:59 PM   |   Comments

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NEW YORK, Aug. 15 (UPI) -- Crude oil for September topped $107 per barrel in New York Thursday, as traders considered supply disruptions from Libya and troubles in Egypt.

Strikes have disrupted the Libyan oil industry, responsible for 1.5 percent of the world's daily oil supply, Voice of America reported. Civil unrest in Egypt has raised anxiety about political stability in the region in general.

On the New York Mercantile Exchange, West Texas Intermediate crude added 37 cents to reach $107.22. Reformulated blendstock gasoline added 0.24 cents to reach $2.9854 per gallon. Home heating oil gained 2.65 cents to reach $3.0743 per gallon.

Natural gas added 7.3 cents to $3.415 per million British thermal units.

At the pump, the national average price for a gallon of unleaded regular gasoline was $3.539, unchanged from 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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