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Crude oil heads higher Friday

Jan. 10, 2014 at 3:18 PM
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NEW YORK, Jan. 10 (UPI) -- Crude oil prices headed higher Friday after an overnight plunge below $92 per barrel on the New York Mercantile Exchange.

NYMEX light, sweet crude oil added $1.06 to $92.72 per barrel, close to Thursday's high of $92.93.

West Texas Intermediate oil found support from equity markets, which were higher in Europe and most of Asia. Traders may adjust their strategies, however, after an early Employment Situation report from the Labor Department pegged job gains in December at 74,000, far lower than the 200,000 jobs economists had expected.

Reformulated blendstock gasoline prices were up 1.14 cents to $2.6677 a gallon.

Home heating oil rose to $2.9433 a gallon, up 2.19 cents.

Natural gas added 6 cents to hit $4.06 per million British thermal units.

The national average price of unleaded regular gasoline rose from Thursday's $3.07 per gallon to $3.312, the AAA Daily Fuel Gauge Report said.

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