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Dec. 13, 2013 / 4:19 PM

Crude oil slides under $97 per barrel

The sign of a BP gas station is seen in Arlington, Virginia on September 8, 2010. UPI/Alexis C. Glenn

The sign of a BP gas station is seen in Arlington, Virginia on September 8, 2010. UPI/Alexis C. Glenn | License Photo

NEW YORK, Dec. 13 (UPI) -- Crude oil prices dropped under $97 per barrel Friday on expectations that Libyan ports are days away from a resumption of oil exports.

Mostly a supplier of high-grade oil for the European market, Libyan ports are expected to resume exporting oil by Monday after prolonged shutdowns due to security issues.

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West Texas Intermediate crude oil dropped $1.01 Friday to reach $96.49 per barrel. Reformulated gasoline blendstock for January shed 0.57 cents to $2.6291 a gallon.

January heating oil lost 0.46 cents to settle at $2.9755 a gallon while natural gas lost 3 cents to reach $4.38 per million British thermal units.

The national average price of unleaded regular gasoline dropped to $3.248 a gallon from Thursday's $3.253 a gallon, the AAA Daily Fuel Gauge Report said.

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