News Column

Crude Oil Perched at $90

Dec. 20, 2012

Crude oil prices broke $90 for the first time in two weeks Thursday as the dollar weakened and equity markets have shown recent resilience.

The dollar index was off 0.26 percent on the International Exchange Thursday morning at 79.21. Equities were mixed in Asia and Europe. But U.S. equity markets have regained what was lost in the week following the Nov. 6 election.

West Texas Intermediate crude oil for January delivery added 4 cents on the New York Mercantile Exchange to perch at $90.02 Thursday morning. Home heating oil for January added 1.31 cents to $3.0444 a gallon. Reformulated blendstock gasoline lost 0.11 cents to $2.7327 a gallon.

Natural gas prices added 5.9 cents to $3.379 per million British thermal units.

At the pump, AAA reported a national average price for regular unleaded gasoline hit $3.219 per gallon, down from Wednesday's $3.226.


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Source: Copyright United Press International 2012