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Crude oil retreats to five-month low in New York

Nov. 27, 2013 at 3:35 PM   |   Comments

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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.

© 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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