Near $92, oil doesn’t budge

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Near $92, oil doesn’t budge

Posted on Oct 16, 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 held steady near $92 per barrel on the New York Mercantile Exchange Tuesday.

Equity markets pushed higher in Asia and Europe, but those are relatively indirect influences on oil prices. More direct influences — tension in the Middle East and major economic reports — were stable Tuesday morning.

West Texas Intermediate crude for November delivery in New York added 29 cents to $92.03 per barrel.

Natural gas prices shed 0.045 cents t $3.44 per million British thermal units. Home heating oil lost 0.0219 cents to $3.185 per gallon. Reformulated blendstock gasoline dropped 0.0189 cents to $2.8363 per gallon.

At the pump, the average price for a gallon of regular unleaded gasoline was $3.773 per gallon, down from Monday”s $3.787, AAA reported.

Copyright 2012 by United Press International