Crude oil near $97

Nov. 25, 2011 at 1:53 PM
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NEW YORK, Nov. 25 (UPI) -- Crude oil prices headed toward $97 per barrel in a half-day, post-Thanksgiving trading session Friday, as traders reacted to a pre-holiday inventory report.

The Energy Information Administration weekly inventory report released Wednesday afternoon showed stockpiles down by 6.2 million barrels in the week, dropping supplies to 27.8 million barrels less than the same period a year earlier.

Traders had little time before the Thanksgiving holiday to react. On Friday, prices for West Texas Intermediate crude oil for January delivery added 76 cents to reach $96.93 per barrel. Home heating prices lost 3.01 cents to $2.9413 per gallon. Reformulated blendstock gasoline prices gave up 6.41 cents to $2.4564 per gallon. Henry Hub natural gas prices gained 8.1 cents to $3.538 per million British thermal units.

At the pump, the national average price of unleaded gasoline.

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