Crude oil prices slipped to less than $95 per barrel in New York Tuesday morning
as data continue to point to an oversupplied market.
Energy Information Administration reports indicate U.S. inventories higher than
they have been since the 1930s. Demand appears consistent but the supply
situation is putting pressure on prices.
On the New York Mercantile Exchange, West Texas Intermediate crude oil shed 27
cents to $94.90 per barrel.
Gasoline prices lost 0.09 cents to $2.8201 a gallon. Home heating oil dropped
1.54 cents to $2.8756 a gallon. Natural gas added 0.8 cents to reach $3.933 per
million British thermal units.
At the pump, the average price of a gallon of regular unleaded gasoline was
$3.582 Tuesday, up from Monday's $3.579, the AAA Fuel Gauge Report said.
