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Crude oil prices dip

Fri, 29/10/2010 - 08:12 by harsheeb

New York-- Crude oil prices dropped slightly in New York Thursday to under $82 per barrel, despite support from the dollar index, which dropped 1.09 percent.

Crude oil prices dropped 27 cents to $81.91 per barrel following the Energy Information Administration's announcement Wednesday that U.S. crude oil supplies rose by 5 million barrels to 366.2 million barrels, above the average range for this time of year.

Gasoline stockpiles dropped by 4.4 million barrels to 214.9 million in the week ending Oct. 22.

On the New York Mercantile Exchange, heating oil prices lost 0.54 cents to $2.254 per gallon. Reformulated blendstock for December delivery shed 0.8 cents to $2.0748 per gallon.

Henry Hub natural gas prices added 3.6 cents to $3.926 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose slightly to $2.808 per gallon Thursday from Wednesday's $2.807, AAA said.

Copyright 2010 United Press International

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