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Crude oil slips to $107.76 Friday

Aug. 30, 2013 at 3:36 PM   |   Comments

NEW YORK, Aug. 30 (UPI) -- Crude oil for October delivery eased to less than $108 per barrel Friday afternoon amid speculation about the situation in Syria.

Traders are concerned escalating tensions and the debate about chemical weapons in Syria could ripple through the region and slow down or even derail oil supplies from making it to markets around the globe.

After peaking above $110 per barrel in the middle of the week, West Texas Intermediate crude oil shed $1.08 Friday afternoon to $107.72 per barrel. Reformulated blendstock gasoline lost 0.0478 cents to $3.0186 per gallon. Home heating oil gave up 0.0399 cents to reach $3.1450 per gallon.

Natural gas dropped 0.036 cents to $3.582 per million British thermal units.

At the pump, the national average price for a gallon of unleaded regular gasoline was $3.585, up from Thursday's $3.564, the AAA Fuel Gauge report said.

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