Money Matters - Simplified

Crude oil prices little changed

New York -- Crude oil prices held above $83 per barrel on the New York Mercantile Exchange, as the Organization of Petroleum Exporting Countries cartel met in Vienna.

Analysts expect production quotas among the 12 OPEC countries to remain steady. Going into the meeting, Libya oil minister Shukri Ghanem said, "We should simply confirm (production quotas) and ask for compliance. I don't think there's much more to be done," Yahoo! News reported.

In New York, November delivery crude oil prices gained 6 cents from a prior settlement to $83.07 per barrel. Heating oil prices lost 0.31 cents to $2.2976 per gallon. Reformulated gasoline prices lost 0.61 cents to $2.16 per gallon. Henry Hub natural gas prices lost 8 cents to $3.616 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $2.828 per gallon Thursday from Wednesday's $2.82, AAA said.

Copyright 2010 United Press International

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