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Crude oil hovers near $94 per barrel

Jan. 8, 2014 at 8:45 AM   |   Comments

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NEW YORK, Jan. 8 (UPI) -- Crude oil prices rose Wednesday morning, taking a second consecutive run at $94 per barrel, a plateau that did not hold on Tuesday.

West Texas Intermediate light, sweet crude oil on the New York Mercantile Exchange added 34 cents in early trading to $94.01.

The dollar index, which measures the greenback against six major currencies on a pro-rated scale, was slightly ahead, up 0.16 percent to an even 81. But the energy commodities were also influenced by the deep chill in the Northeast corridor that will spur short term demand for electricity and heating oil.

Gasoline prices added 0.06 cents to $2.6792 a gallon.

Home heating oil climbed to $2.9666 a gallon, up 0.73 cents.

Natural gas was up 5 cents at $4.35 per million British thermal units.

The national average price of unleaded regular gasoline dropped from Monday's $3.317 per gallon to $3.314, the AAA Daily Fuel Gauge Report said.

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