Crude oil retreats to five-month low in New York

Nov. 27, 2013 at 3:35 PM
| License Photo

NEW YORK, Nov. 27 (UPI) -- The price of a barrel of crude oil headed toward $92 a barrel in New York Wednesday after a stockpile report showed a larger buildup than expected.

The Energy Information Agency said stockpiles, already high, rose by 3 million barrels in the week ending Friday. The consensus expectation called for buildup of about 500,000 barrels.

On the New York Mercantile Exchange, crude oil shed $1.46 cents to reach $92.22 per barrel.

Reformulated blendstock gasoline gained 1.39 cents to reach $2.7008 a gallon. Home heating oil added 0.56 cents to reach $3.045 per gallon.

Natural gas added 3 cents to $3.89 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose slightly, climbing from Tuesday's $3.286 per gallon to $3.287, the AAA Daily Fuel Gauge Report said.

Related UPI Stories
Latest Headlines
Trending Stories
Nobel Prize in Chemistry awarded to DNA cell repair pioneers
Priest suspended after defending pedophilia in TV interview
U.S. asks how Islamic State militants got so many Toyotas
At least 17 dead in Carolinas, more flooding expected
NASA releases thousands of Apollo mission photos on Flickr