News Column

Oil Prices Pushed Up by Middle East Tensions

July 8, 2013
oil pump

Crude oil prices in New York settled slightly Monday morning, easing back to $102.71 per barrel from an earlier peak of $103.22.

Prices soared to a 14-month high over the weekend, as political tension ion Egypt continued to shake confidence in consistent supplies from the Middle East.

In early price movement Monday, reformulated blendstock gasoline lost 1.16 cents to $2.8852 per gallon. Home heating oil shed 1.38 cents to reach $2.9759 per gallon.

Natural gas added 4.8 cents to $3.666 per million British thermal units.

At the pump, the average price for a gallon of unleaded regular gasoline was $3.474, unchanged from Sunday and down slightly from $3.487 a week ago, the AAA Fuel Gauge report said.

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Source: Copyright UPI 2013

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