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Crude oil inches toward $93

Posted on Oct 17, 2012 in Business | 0 comments

Numbers are displayed on an electronic sign at the NYMEX as oil nears $104 per barrel on March 4, 2008 in New York. Oil prices continued to rise ahead of the OPEC production meeting where it is predicted that OPEC will not increase oil supply to ease record-high prices. (UPI Photo/Monika Graff)

Crude oil prices moved tentatively higher Wednesday, aiming toward $93 per barrel on the New York Mercantile Exchange.

The market gained confidence as equity markets pushed higher in Asia and Europe.

West Texas Intermediate crude for November delivery in New York added 69 cents to $92.78 per barrel.

Natural gas prices gained 0.31 cents to $3.468 per million British thermal units. Home heating oil lost 1.52 cents to $3.1833 per gallon. Reformulated blendstock gasoline dropped 0.03 cents to $2.868 per gallon.

At the pump, the average price for a gallon of regular unleaded gasoline was $3.756 per gallon, down from Tuesday”s $3.773, AAA reported.

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Crude oil inches toward $93