News Column

Crude Oil Price Climbs Toward $91

Dec. 26, 2012

Crude oil prices neared $91 per barrel Wednesday in New York.

Oil prices rose with traders concerned that lawmakers in Washington wouldn't reach a deficit-reduction agreement before the end of the year, a development that could set the economic recovery back on its heels.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for February delivery added $2.13 to $90.74 per barrel. Home heating oil for February added 5.04 cents to $3.0389 a gallon. Reformulated blendstock gasoline was up 6.25 cents to $2.7882 a gallon.

Natural gas prices gained 0.46 cents to $3.424 per million British thermal units.

At the pump, AAA reported a national average price for regular unleaded gasoline hit $3.247 per gallon, unchanged from Tuesday.

Source: Copyright United Press International 2012

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