Money Matters - Simplified

Crude oil prices hold near $82

New York -- Crude oil prices held close to $82 per barrel in New York after the U.S. Energy Information Administration said supplies rose in the week ending Oct. 22.

Crude oil inventories gained 5 million barrels to 366.2 million barrels, while gasoline stockpiles dropped 4.4 million barrels to 214.9 million.

December delivery crude oil prices traded in a narrow range, most recently adding 4 cents on the New York Mercantile Exchange overnight to $81.98 per barrel. Heating oil prices shed 0.07 cents from a recent settlement to $2.2555 per gallon.

Reformulated gasoline prices dropped 0.02 cents to $2.0752 per gallon. Henry Hub natural gas prices added 2 cents to $3.783 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $2.807 per gallon Wednesday from Tuesday's $2.81, AAA said.

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

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