Crude oil prices for October delivery dropped 78 cents overnight to $107.84 per barrel as talks began in Switzerland to find a solution to the crisis in Syria.
Traders turned their attention to Libya, where the National Oil Corporation said it had declared a force majeure on three major oil exporting ports, saying circumstances had gotten beyond its control due to a strike. This declaration is made as a formal way of stating that it was no longer obligated to fulfill contract obligation, Platts news service reported.
Reformulated blendstock gasoline prices added 1.16 cents to $2.7743 per gallon. Home heating oil dropped 0.71 cents to $3.1093 per gallon. Natural gas shed 2 cents to $3.62 per million British thermal units.
At the nation's gas stations, the national average price for unleaded gasoline fell to $3.54 per gallon Friday from Thursday's $3.55, the AAA Fuel Gauge report said.
Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Original Headline: Crude Oil Eases Back
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- Bitcoin Clones Lurch Onto Financial Scene
- General Motors Names Mary Barra as First Female CEO
- AIG to Create 230 Jobs in Charlotte
- Clinton to Keynote Annual Simmons Leadership Conference
- Pacific Trade Pact Delay Hinders U.S. Pivot to Asia
- Californians Want to Legalize Marijuana
- How Bitcoin and Other Cryptocurrencies Work
- Russia Says Nyet to Canada North Pole Claim
- Budget Deal Sets Off Grumbles in Both Houses