Crude oil prices take a step back

NEW YORK, April 11 (UPI) -- Crude oil prices eased back close to $109 per barrel in New York Monday, with traders cautiously watching peace efforts in Libya.

Prices for crude in Europe and New York have marched relentlessly higher since fighting to oust Libyan leader Moammar Gadhafi began two months ago. Reports during the weekend said the government has accepted a peace plan presented by the African Union. Rebel leaders said they would consider the proposal.


On the New York Mercantile Exchange, crude oil shed 3.3 percent or $3.77 to $109.04 per barrel. Home heating oil prices lost 1.25 cents to $3.24 per gallon. Reformulated blendstock gasoline prices shed 0.6 cents to $3.1945 per gallon.

Henry Hub natural gas prices gained 1.7 cents to $4.125 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.77 per gallon Monday from Sunday's $3.761, AAA said.

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