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March 27, 2012 / 4:56 PM

Crude oil slides under $107

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NEW YORK, March 27 (UPI) -- Crude oil prices held near $107 per barrel Tuesday with prices propped up by political tensions in the Middle East.

Beyond supply and demand, concern over Iran's alleged nuclear weapons program and international sanctions to force a solution is the dominating factor in the oil market.

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On the New York Mercantile Exchange, May delivery West Texas Intermediate light sweet crude hit a trading session high of $107.73 per barrel to settle at $106.88. Home heating oil shed 0.76 cents to $3.2284 per gallon. Reformulated gasoline lost 2.83 cents to $3.3704 per gallon.

Henry Hub natural gas prices lost 2.9 cents to $2.197 per million British thermal units.

The national average price of unleaded gasoline rose 1 tenth of a penny, reaching $3.898 per gallon Tuesday, up from Monday's $3.897, AAA said.

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