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Crude oil slips under $103

Sept. 27, 2013 at 8:45 AM   |   Comments

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NEW YORK, Sept. 27 (UPI) -- West Texas Intermediate crude oil prices swung lower Friday morning on the New York Mercantile Exchange, dropping under $103 per barrel.

With easing tensions in the Middle East, supply side worries have faded. Crude oil, above $110 per barrel in early September, has returned to prices unseen since early July.

Oil shed 25 cents to reach $102.78 per barrel. Reformulated blendstock gasoline prices dropped 0.68 cents to $2.6982 per gallon. Home heating oil gave up 0.92 cents to $2.9945 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 $3.422 per gallon Friday from Thursday's $3.434, AAA's Daily Fuel Gauge Report said.

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