NEW YORK, Dec. 28 (UPI) -- Crude oil prices slid under $100 on the New York Mercantile Exchange as supply tensions were countered by falling stock markets.
A high-ranking Iranian official said Tuesday tougher sanctions imposed on the country, due to suspicions that it is developing a nuclear weapon, would result in Iran closing the Straits of Hormuz, a shipping lane that accommodates one-fifth of the world's oil supply.
The threat pushed crude oil higher Tuesday, but prices were settling Wednesday, easing back from a high for the session of $101.71 to $99.36.
Home heating oil dropped 1.51 cents to reach $2.8934 per gallon, while reformulated blendstock gasoline prices dropped 3.75 cents to $2.6513 per gallon.
Henry Hub natural gas prices gained 2.4 cents to $3.145 per million British thermal units.
At the pump, the national average price of unleaded gasoline gained 1.2 cents to $3.243 Wednesday.
