U.S. crude oil recedes closer to $99

Dec. 30, 2013 at 4:48 PM

NEW YORK, Dec. 30 (UPI) -- Crude oil prices moved lower on the New York Mercantile Exchange Monday morning, sliding closer to $99 per barrel.

Traders reacted to European Central Bank President Mario Draghi's statements published Saturday that he saw no threat of deflation in the future for the eurozone and no reason to cut lending rates further.

Light, sweet crude on the NYMEX listing shed $1.02 to $99.30 per barrel. Reformulated gasoline blendstock for January gave up 2.04 cents to $2.7957 a gallon.

January heating oil dropped 4.6 cents to $3.0781 a gallon while natural gas gained 7 cents to $4.43 per million British thermal units.

The national average price of unleaded regular gasoline rose at the pump, climbing to $3.312 a gallon from Sunday's $3.309, the AAA Daily Fuel Gauge Report said.

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