facebook
twitter
rss
account
search
search
 

Crude oil holds near $97 per barrel

Dec. 18, 2013 at 5:51 PM   |   Comments

| License Photo
NEW YORK, Dec. 18 (UPI) -- Crude oil prices held above $97 per barrel Wednesday, rising after the U.S. Federal Reserve said it would begin to taper off on asset purchases in January.

The Fed said it will throttle back from $85 billion in purchases per month to $75 billion, signaling growing confidence in the U.S. economic recovery.

West Texas Intermediate crude added 48 cents to reach $97.70 per barrel.

Reformulated gasoline blendstock for January added 4.68 cents to $2.694 a gallon.

January heating oil added 4.01 cents to settle at $3.003 a gallon, while natural gas shed 2 cents to $4.27 per million British thermal units.

The national average price of unleaded regular gasoline dropped to $3.216 a gallon from Tuesday's $3.222 a gallon, 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.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Twinkies' Chicago facility to close
2
Russia's Rosneft grabs Norwegian drilling assets
3
Scottish tidal array may be largest of its kind
4
Laundry drying sparks 'smart skin' concept for aircraft
5
Native concerns over oil vetted in Canada
Trending News
Video
x
Feedback