facebook
twitter
search
search

Crude oil lingers at $103

Sept. 26, 2013 at 3:58 PM
| License Photo

NEW YORK, Sept. 26 (UPI) -- West Texas Intermediate crude oil prices swung higher Thursday in New York after the market tested prices of less than $103 per barrel.

Crude oil on the New York Mercantile Exchange dipped to $102.50 per barrel Wednesday 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.

It has been a long drop from $110 per barrel, which was a price provoked by international tension in the Middle East, including saber rattling in Washington related to the use of chemical weapons in Syria and strikes at oil-exporting ports in Libya.

Both of those issues have largely moved into the background, leaving oil to seek a new level.

Oil regained 34 cents Thursday to reach $103 per barrel. Reformulated blendstock gasoline prices gained 3.21 cents to $2.705 per gallon. Home heating oil gained 2.49 cents to $2.998 per gallon. Natural gas added 1 cent to reach $3.50 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell to $3.434 per gallon Thursday from Wednesday's $3.447, AAA's Daily Fuel Gauge Report said.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Volvo unveils new child seat concept
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules