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Crude oil pricing muted Tuesday

Oct. 1, 2013 at 6:34 PM   |   Comments

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NEW YORK, Oct. 1 (UPI) -- West Texas Intermediate crude oil prices held just above $102 in New York Tuesday amid a federal government shutdown.

Analysts said the first federal government shutdown in 17 years could result in confusion in commodity markets due to the lack of reports traders use to assess the market.

The Energy Information Administration said it would continue publishing the weekly U.S. crude oil inventory report for the next two weeks, oil market analyst Dominick Chirichella reported.

On the New York Oil Mercantile Exchange, crude oil dropped 29 cents to reach $102.04 per barrel. Reformulated blendstock gasoline prices dropped 1.76 cents to $2.6106 per gallon. Home heating oil gave up 1.62 cents to $2.9553 per gallon. Natural gas gained 5 cents to reach $3.61 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell to $3.393 per gallon from Monday's $3.399, 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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