Crude oil holds steady

Nov. 29, 2012 at 10:32 PM
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NEW YORK, Nov. 29 (UPI) -- Crude oil prices made slight gains Thursday on the New York Mercantile Exchange, supported by a two-day rally in equities.

West Texas Intermediate crude oil added 12 cents to $87.66 a barrel with price support also coming from a weaker U.S. dollar.

Home heating oil shed 0.51 cents in late trading to $3.0518 a gallon while reformulated blendstock gasoline lost 1.29 cents to $2.7205 a gallon. Henry Hub natural gas shed 1.34 cent to $3.648 per million British thermal units.

On Wednesday, the Energy Information Agency said stockpiles of crude were little changed in the week with a drawdown of about 300,000 barrels. Still, even a slight draw down with winter weather setting in is likely to push prices higher.

At the pump, AAA reported regular unleaded gasoline selling for $3.409 per gallon, down from Wednesday's $3.415.

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