News Column

Crude Oil Settles Down After Run-up

August 2, 2013
crude oil

West Texas Intermediate crude for September delivery shed 17 cents to $107.72 per barrel in New York Friday morning.

Crude settled back after sharp gains in the past two sessions.

Prices headed higher on a slew of positive economic reports, including data that showed manufacturing was growing in China, Europe and the United States.

On the New York Mercantile Exchange, reformulated blendstock gasoline moved back to $3.0134 per gallon, off 1.5 cents. Home heating oil settled at $3.0906 per gallon, down 0.6 cents.

Natural gas gained 0.7 cents to $3.394 per million British thermal units.

At the pump, the national average price for a gallon of unleaded regular gasoline was $3.626, down from Thursday's $3.63, the AAA Fuel Gauge report said.

Source: Copyright UPI 2013

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