Supply data pressures oil prices

Nov. 26, 2013 at 6:27 PM
| License Photo

NEW YORK, Nov. 26 (UPI) -- The price of a barrel of crude oil dropped under $94 Tuesday as traders anticipate another week of increased U.S. stockpiles.

The Energy Information Agency is expected to announce a stockpile buildup in Wednesday's report. On Tuesday, the American Petroleum Institute estimated crude inventories rose by 6.9 million barrels last week, The Wall Street Journal reported.

On the New York Mercantile Exchange, crude oil settled at $93.46 per barrel, down 63 cents.

Reformulated blendstock gasoline gained 0.62 cents to reach $2.6869 a gallon. Home heating oil added 1.23 cents to reach $3.0444 per gallon.

Natural gas picked up 3 cents to $3.82 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose slightly, climbing from Monday's $3.28 per gallon to $3.286, the AAA Daily Fuel Gauge Report said.

Related UPI Stories
Latest Headlines
Trending Stories
Walgreens to sell heroin overdose antidote naloxone without prescription
Hospital mortality drops with lower patient-to-nurse ratio
Kanye West under fire after Bill Cosby tweet
Plus-size model Ashley Graham nabs Sports Illustrated swimsuit spread
IKEA issues recall after glass ceiling lamps crash to ground