Crude oil holds close to $86

Nov. 15, 2012 at 7:53 PM
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NEW YORK, Nov. 15 (UPI) -- Crude oil prices slipped under $86 a barrel on the New York Mercantile Exchange as the government said U.S. stockpiles rose in the week.

In a weekly Energy Information Administration stockpile report delayed by one day due to Monday's Veterans Day holiday, the government said crude oil inventories rose by 1.1 million barrels in the week to 375.9 million barrels.

With equities down for the sixth trading session out of the past seven, West Texas Intermediate crude oil in New York lost 92 cents to $85.40 per barrel. Reformulated blendstock gasoline lost 1.39 cents in late trading to $2.6823 per gallon overnight. Home heating oil prices shed 1.05 cents to $2.963 per gallon.

Natural gas prices added 1.2 cents to $3.715 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell to $3.438 per gallon from Wednesday's $3.443, AAA said.

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