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Crude oil holds at just more than $94

Jan. 16, 2014 at 2:19 PM   |   Comments

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NEW YORK, Jan. 16 (UPI) -- Crude oil prices held at more than $94 per barrel Thursday after the Energy Information Administration said inventories dropped sharply in the week.

U.S. stockpiles dropped by 7.7 million barrels in the week that ended Jan. 10 to 350.2 million barrels, EIA said.

NYMEX light, sweet crude oil prices climbed early, before resetting with a 12-cent drop at $94.05 per barrel.

Reformulated blendstock gasoline shed 1.31 cents to $2.6133 a gallon.

Home heating oil added 0.35 cents to $2.9831 a gallon.

Natural gas added 6 cents to hit $4.39 per million British thermal units.

The national average price of unleaded regular gasoline dropped to $3.302 per gallon from Wednesday's $3.306, the AAA Daily Fuel Gauge Report said.

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