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Crude oil tops $90 per barrel briefly

New York -- Crude oil prices climbed above $90 per barrel for the second time in a week Tuesday, with prices settling down in early morning trading in New York.

Prices hit an overnight peak of $90.76 on the New York Mercantile Exchange with confidence rising as the White House announced a compromise tax bill that would extend the George W. Bush era tax cuts for all wage earners for two years. Along with the compromise between Republicans and the Obama administration, jobless benefits would be extended for 13 months for unemployed long-term.

The price of January delivery light, sweet crude settled lower at $89.36 by midmorning. Heating oil prices added 0.34 cents to $2.4791 per gallon.

Crude oil hovers near $88

New York -- Crude oil prices hovered near $88 per barrel on the New York Mercantile Exchange Friday morning with little price movement.

January delivery light,sweet crude oil added 16 cents overnight to $88.01 per barrel. Heating oil prices gained 0.04 cents to $2.455 per gallon. Reformulated gasoline blendstock prices fell 1.93 cents to $2.2336 per gallon.

Henry Hub natural gas prices gained 2.6 cents to $4.369 per million British thermal units.

At the pump, the national average price of unleaded gasoline reached $2.90 per gallon from Thursday's $2.879, AAA said.

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

Crude oil holds near $87 per barrel

New York -- Crude oil prices held steady near $87 per barrel on the New York Mercantile Exchange, as the European Central Bank kept lending rates unchanged.

The ECB left its bank-to-bank lending rate at 1 percent, as investors kept an eye on the ongoing debt crisis in Europe.

In New York, January delivery light, sweet crude prices added 38 cents to $87.13 overnight. Heating oil prices gained 1.95 cents to $2.4251 per gallon. Reformulated gasoline blendstock prices picked up 3.73 cents to $2.3377 per gallon. Henry Hub natural gas prices gained 5.1 cents to $4.32 per million British thermal units.

Crude oil prices slide under $84

New York -- Crude oil prices lost ground Tuesday on the New York Mercantile Exchange, dropping under $84 per barrel with the dollar index down 0.06 percent.

Oil traders are balancing out concerns of diminished expectations for growth in Europe given the ongoing debt crisis that resulted in a financial bailout for Ireland this week and indications China is considering policy adjustments to slow inflation.

The European Commission said Monday that growth in Europe was expected to be "muted" through 2012 with the gross domestic product gaining 1.75 percent in 2011 and 2 percent in 2012.

Oil prices climb, topping $84

New York -- Crude oil prices in New York topped $84 per barrel Wednesday as equities rebounded on Wall Street.

The Energy Information Administration said U.S. inventories of crude oil rose by 1 million barrels in the week ending Nov. 19. Traders were encouraged, however, by a sharp rebound in stock markets. The Dow Jones industrial average gained 150.91 points after losing 142.21 points Tuesday.

January delivery light, sweet crude oil on the New York Mercantile Exchange added $2.90 cents to $84.15. Heating oil prices gained 8.02 cents to $2.3471 per gallon. Reformulated blendstock gasoline rose 8.32 cents to $2.17 per gallon.

Crude oil prices hold near $82

New York -- Crude oil prices fell slightly but held above $82 per barrel Friday on the New York Mercantile Exchange.

Prices resumed their downward trend after climbing Thursday on news U.S. inventories had dropped by 7.3 million barrels last week.

Prices have been battered most of the week by concern over a bailout for Irish banks and officials in China suggesting tighter monetary policy was needed to curb inflation.

January delivery light, sweet crude opened at $82.76, then lost 63 cents to $82.13 per barrel. Heating oil prices shed 1.95 cents to $2.2938 per gallon. Reformulated blendstock gasoline prices shed 3.1 cents to $2.1275 per gallon.

Crude oil prices drop Friday morning

New York -- Crude oil prices dropped near $81 per barrel Friday morning on the New York Mercantile Exchange.

Prices resumed their downward trend after climbing Thursday on news U.S. inventories had dropped by 7.3 million barrels last week.

Prices have been battered most of the week by concern over a bailout for Irish banks and officials in China suggesting tighter monetary policy was needed to curb inflation.

January delivery light, sweet crude opened at $82.76, then lost 95 cents to $81.47 per barrel. Heating oil prices shed 2.68 cents to $2.2865 per gallon. Reformulated blendstock gasoline prices shed 4.1 cents to $2.1175 per gallon.

Crude oil prices slide for fourth day

New York -- Crude oil prices dropped for the fourth consecutive trading session Wednesday, dropping under $81 per barrel on the New York Mercantile Exchange.

Crude oil prices had been chugging along toward higher ground, breaking above $88 after the U.S. Federal Reserve announced early this month it would buy $600 billion of long-term Treasury bonds.
Since then, rising concern in Europe over Ireland's plans to bail out its banks has pushed the dollar higher, as confidence in the euro has dropped.

Crude oil drops on stronger dollar

New York -- Crude oil prices headed lower for the fourth consecutive trading session Wednesday morning, dropping under $82 per barrel in New York.

Crude oil prices had been chugging along toward higher ground, breaking above $88 after the U.S. Federal Reserve announced early this month it would buy $600 billion of long-term Treasury bonds. Since then, rising concern in Europe over Ireland's plans to bail out its banks has pushed the dollar higher, as confidence in the euro has dropped.

Oil prices drop in Europe's worries

New York -- Concern over debt issues in Europe weighed on crude oil Tuesday, pulling prices on the New York Mercantile Exchange under $84 per barrel.

Last week's run up to $88 per barrel has hit a wall of doubt in Europe, where finance ministers are discussing a bailout of Ireland and are worried the debt crisis will spread to Portugal and Spain.

Ireland continues to deny it requires a bailout, saying it will manage to correct its financial difficulties with austerity measures alone. European Union officials are expected to review Ireland's four-year budget plans this week.