News Column

Crude Oil Slides a Touch at End of Day

June 19, 2013
oil well

The price for a barrel of crude oil slipped Wednesday afternoon, dropping 20 cents to $98.47 per barrel on an unexpected inventory report.

The Energy Information Administration said crude oil supplies rose by 313,000 barrels in the week -- not much in the grand scheme of things, but economists had expected the EIA to report a draw, which meant some traders adjusted their positions quickly to match market conditions.

Reformulated blendstock gasoline gained 1.65 cents to $2.8959 a gallon.

Home heating oil added 0.97 cents to $2.9714 a gallon.

Natural gas gained 5.8 cents to $3.963 per million British thermal units.

At the pump, the average price for a gallon of unleaded regular gasoline was $3.603, down from Tuesday's $3.607, the AAA Fuel Gauge report said.




For more stories covering business, please see HispanicBusiness' Business Channel



Source: Copyright UPI 2013