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Crude oil eases back

Sept. 13, 2013 at 8:45 AM   |   Comments

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NEW YORK, Sept. 13 (UPI) -- Crude oil prices for October delivery dropped 78 cents overnight to $107.84 per barrel as talks began in Switzerland to find a solution to the crisis in Syria.

Traders turned their attention to Libya, where the National Oil Corporation said it had declared a force majeure on three major oil exporting ports, saying circumstances had gotten beyond its control due to a strike. This declaration is made as a formal way of stating that it was no longer obligated to fulfill contract obligation, Platts news service reported.

Reformulated blendstock gasoline prices added 1.16 cents to $2.7743 per gallon. Home heating oil dropped 0.71 cents to $3.1093 per gallon. Natural gas shed 2 cents to $3.62 per million British thermal units.

At the nation's gas stations, the national average price for unleaded gasoline fell to $3.54 per gallon Friday from Thursday's $3.55, 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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