Money Matters - Simplified

Crude oil prices hold near $82

New York -- Crude oil prices held near $82 per barrel on the New York Mercantile Exchange Tuesday, as traders test a new price plateau.

Prior to an Organization of Petroleum Exporting Countries summit scheduled for Thursday in Vienna, November delivery light, sweet crude lost 41 cents to $81.80 with the dollar down 0.15 percent.

OPEC, in a monthly report, said global demand for oil in 2010 was 100,000 barrels per day higher than previously thought -- the total estimate revised to 1.1 million barrels a day, MarketWatch reported.

Heating oil prices fell 0.9 cents to $2.27 per gallon. Reformulated gasoline prices shed 3.55 cents to $2.13 per gallon. Henry Hub natural gas prices gained 4.9 cents to $3.65 per million British thermal units.

At the pump, the national average price of unleaded gasoline was $2.811 per gallon Tuesday, up from Monday's $2.807, AAA said.

Copyright 2010 United Press International, Inc. (UPI).

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