News Column

Crude Oil Slips

Aug 30, 2013

Crude oil for October delivery eased under $108 per barrel Friday morning amid speculation about the situation in Syria.

Traders are concerned that escalating tensions and the debate about chemical weapons in Syria could ripple through the region and slow down or even derail oil supplies from making it to markets around the globe.

After peaking above $110 per barrel in the middle of the week, West Texas Intermediate crude oil shed 87 cents Friday morning to $107.93 per barrel. Reformulated blendstock gasoline lost 1.59 cents to $2.9147 per gallon. Home heating oil gave up 0.68 cents to reach $3.1815 per gallon.

Natural gas added 1 cent to $3.628 per million British thermal units.

At the pump, the national average price for a gallon of unleaded regular gasoline was $3.585, up from Thursday's $3.564, the AAA Fuel Gauge report said.

Source: Copyright UPI 2013

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