Crude oil regains $93 per barrel price

April 25, 2013 at 5:43 PM
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NEW YORK, April 25 (UPI) -- Crude oil prices rose to more than $93 per barrel Thursday in New York in a news day packed with energy items.

The Keystone XL pipeline was cleared by the House Natural Resources Committee Thursday. On the supply side, oil flow through the 600-mile long Kirkuk-Ceyhan pipeline has been blocked due to a militant attack in Iraq, Upstream reported.

In addition, Ecuadorian Oil Minister Wilson Pastor is resigning at the end of the week, energy officials in the country said.

In the United States, with temperatures warming, the U.S. Labor Department said there were 16,000 fewer first-time claims for unemployment benefits in the week ending Saturday.

Perhaps trumping all those industry-related items, oil rose as the Standard and Poor's index kept up a five-day winning streak, giving markets a sense of general optimism.

On the New York Mercantile Exchange, West Texas Intermediate crude oil added $1.79 to $93.22 per barrel.

Gasoline prices added 4.61 cents to $2.7979 a gallon.

Home heating oil hit $2.8711 a gallon, up 4.34 cents.

Natural gas gained was unchanged from Wednesday at $4.166 per million British thermal units.

At the pump, the average price of a gallon of regular unleaded gasoline was $3.512, down from $3.516 Wednesday, the AAA Fuel Gauge Report said.

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