New York -- Crude oil prices declined Thursday in New York as a long upward run found a momentary settling point near $130 per barrel.
The Organization of Petroleum Exporting Countries stated recently that production levels wouldn't increase before September. Global demand hasn't eased, however, and prices are widely expected to rise.
On the New York Mercantile Exchange, crude oil prices fell $1.08 to $129.95 per barrel. The price of heating oil fell 0.0188 cents to $3.8055 per gallon.
Reformulated blendstock gasoline prices fell 0.0176 cents to $3.43 per gallon.
Natural gas prices rose 0.004 cents to $11.999 per million British thermal units.
At the pump, the national average price for a gallon of unleaded gasoline reached a record $3.952, up from Wednesday's price of $3.944, AAA said.
Copyright 2008 by United Press International
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