NEW YORK, Oct. 17 (UPI) -- Crude oil prices closed lower Wednesday on the New York Mercantile Exchange after an surge earlier in the session that sent prices to a record $89 per barrel.
At the end of the session, crude oil for finished down 21 cents at $87.12 per barrel. The gains were seen after the Turkish Parliament authorized the military to enter northern Iraq to fight Kurdish rebels.
"The Turkish move was widely expected," Phil Flynn, senior market analyst at Alaron Trading, told MarketWatch. "It gave us a pop but couldn't get us to $90."
Natural gas finished up 0.0910 cents to close at $7.4580 per 1,000 cubic feet.
Heating oil and gasoline both finished the session lower. Heating oil closed at $2.3189, down 0.0198 cent while gasoline lost 0.0271 cents to end the session at $2.1466.
At the pump, the price for a gallon of unleaded gasoline was $2.776 Wednesday, up from $2.759 the previous day, reported AAA's Daily Fuel Gauge Report.