Crude oil prices headed higher Tuesday, topping $97 per barrel as traders considered diminishing supplies from the Middle East and the North Sea.
With the business embargo against Iran cutting into its oil exports, news that the Buzzard oil field in the North Sea would be offline for maintenance has taken heightened importance.
On the New York Mercantile Exchange, West Texas Intermediate crude oil for September delivery added $1.54 to $97.51 per barrel. Natural gas gained 2.8 cents to $2.804 per million British thermal units.
Home heating oil gained 3.88 cents to $3.1319.
Reformulated blendstock gasoline climbed 4.67 cents to $3.0775 a gallon.
At the pump, the average price for a gallon of regular unleaded gasoline was $3.717 per gallon Tuesday, down from Monday's $3.72, AAA reported.
