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Crude oil prices hold at recent highs

Fri, 01/08/2010 - 20:28 by Inderjit Singh

New York -- Crude oil prices held above $82 per barrel on the New York Mercantile Exchange Friday as a new trend above $80 has settled in with the winter cold front.

The price of light, sweet crude jumped as freezing temperatures marched across much of the northern hemisphere in late December. Prices in New York peaked above $83 per barrel this week, having gained more than $8 since Dec. 21.

On Friday, prices for light, sweet crude eased slightly, down 14 cents to $82.52 per barrel. Heating oil prices shed 0.0055 cents to $2.1781 per gallon. Reformulated gasoline prices dropped 0.0044 cents to $2.1305 per gallon.

Natural gas prices lost 0.061 cents to $5.745 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.727 per gallon Friday, up from Thursday's $2.709, AAA said.

In the past week, gasoline prices have gained more than 7 cents per gallon.

Copyright 2010 by United Press International.

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