Supply data pressures oil prices

Nov. 26, 2013 at 6:27 PM
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NEW YORK, Nov. 26 (UPI) -- The price of a barrel of crude oil dropped under $94 Tuesday as traders anticipate another week of increased U.S. stockpiles.

The Energy Information Agency is expected to announce a stockpile buildup in Wednesday's report. On Tuesday, the American Petroleum Institute estimated crude inventories rose by 6.9 million barrels last week, The Wall Street Journal reported.

On the New York Mercantile Exchange, crude oil settled at $93.46 per barrel, down 63 cents.

Reformulated blendstock gasoline gained 0.62 cents to reach $2.6869 a gallon. Home heating oil added 1.23 cents to reach $3.0444 per gallon.

Natural gas picked up 3 cents to $3.82 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose slightly, climbing from Monday's $3.28 per gallon to $3.286, the AAA Daily Fuel Gauge Report said.

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