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Oil prices drop Thursday

Sept. 19, 2013 at 3:27 PM   |   Comments

NEW YORK, Sept. 19 (UPI) -- Crude oil prices slid toward $106 per barrel Thursday, on news that Iran had pledged to not pursue a nuclear weapons program.

Traders translated progress in the talks with Iran as a development that could allow more oil to make it to markets, The Wall Street Journal reported.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for October delivery lost $1.80 to drop to $106.27 per barrel. Reformulated blendstock gasoline prices dropped 4.9 cents to $2.6931 per gallon. Home heating oil shed 4.09 cents to $2.9996 per gallon. Natural gas held steady at $3.71 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell to $3.494 per gallon Thursday from Wednesday's $3.506, AAA's Daily Fuel Gauge Report said.

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