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Crude oil drops to less than $103

Sept. 25, 2013 at 4:15 PM   |   Comments

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NEW YORK, Sept. 25 (UPI) -- West Texas Intermediate crude oil prices shifted to less than $103 per barrel Wednesday after morning gains had prices headed higher.

Crude oil on the New York Mercantile Exchange, lost 67 cents to $102.46 per barrel after an afternoon report from the Energy Information Administration said U.S. supplies rose by 2.6 million barrels in the week to reach 358.3 million, returning supplies to the upper range for this time of year.

Reformulated blendstock gasoline prices gained 1.46 cents to $2.6738 per gallon. Home heating oil gained 0.39 cents to $2.9649 per gallon. Natural gas reclaimed 2 cents to $3.51 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell to $3.447 per gallon Wednesday from Tuesday's $3.461, AAA's Daily 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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