NEW YORK, Dec. 6 (UPI) -- Crude oil prices topped $101 per barrel in New York Tuesday, as traders kept an eye on developments in Europe concerning government debt.
On Monday, rating agency Standard & Poor's warned more than a dozen European countries that share the euro as currency that their credit ratings were at risk if leaders could not find solutions for debt issues that have swept across Europe, affecting mostly Greece, Italy, Spain, Portugal and Ireland, and threatening the eurozone community as a whole.
But on Tuesday, with no major negative news bulletins, traders anticipated there would be progress at a Thursday and Friday summit of European Union leaders in Brussels.
On the New York Mercantile Exchange Tuesday, light, sweet crude oil for January delivery added 56 cents to reach $101.24 per barrel. Home heating oil rose 0.03 cents to $3.022 per gallon. Reformulated blendstock gasoline lost 1.19 cents to $2.6335 per gallon. Henry Hub natural gas prices gained 1 cents to $3.499 per million British thermal units.
At the pump, the national price of unleaded gasoline dropped to $3.275 per gallon from Monday's $3.276, AAA said.