Crude oil slides Thursday

Jan. 9, 2014 at 6:21 PM
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NEW YORK, Jan. 9 (UPI) -- Crude oil prices slipped Thursday, adding to Wednesday's supply-oriented decline on the New York Mercantile Exchange.

NYMEX crude oil dropped from a high above $94 Wednesday to $92.33 per barrel after the Energy Information Administration reported large build ups of gasoline and distillate oil supplies.

Crude oil supplies fell by 2.7 million barrels to 357.9 million in the week ending Friday, the EIA said. But supplies of motor-grade gasoline rose by 6.2 million barrels to 225 million barrels and inventories of distillate fuels, which include home heating oil, rose by 5.8 million barrels to 125 million.

West Texas Intermediate light, sweet crude oil on Thursday dropped 67 cents to $91.66 per barrel.

Reformulated blendstock gasoline prices gave up 0.88 cents to $2.6475 a gallon.

Home heating oil fell to $2.9214 a gallon, off 2.8 cents.

Natural gas was off 21 cents at $4.01 per million British thermal units.

The national average price of unleaded regular gasoline dropped from Wednesday's $3.31 per gallon to $3.307, the AAA Daily Fuel Gauge Report said.

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