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Nov. 29, 2011 / 7:07 PM

Crude oil holds above $99

NEW YORK, Nov. 29 (UPI) -- January delivery light sweet crude oil headed back above $99 per barrel Tuesday after a strong rally in equities Monday.

Record-breaking sales of $11.4 billion for Black Friday pushed U.S. stocks higher. West Texas Intermediate crude oil, in the meantime, has bounced between $96 and $100 for the past two trading sessions.

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On Tuesday, WTI crude headed higher, adding $1.10 to $99.31 per barrel. Home heating oil shed 1.65 cents to $3.0171 per gallon.

Henry Hub natural gas prices gave up 0.5 cents to $3.628 per million British thermal units. Reformulated blendstock gasoline lost 0.57 cents to $2.5341 per gallon.

At the pump, the national average price of unleaded gasoline held steady at $3.295 per gallon, AAA said.

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