Crude oil prices slip on border tensions

The Wall Street Journal reported South Korean marines died in an exchange of fire on Yeonpyeong, an island of 1,200 residents that is in dispute.

Investors reacted to the increased tensions by pulling back from their riskier positions. January delivery oil prices on the New York Mercantile Exchange, already down while finance ministers in Europe sort through details concerning aid for Ireland, lost 96 cents overnight to $80.78 per barrel. Heating oil prices shed 2.89 cents to $2.2567 per gallon.

Reformulated blendstock gasoline prices lost 2.27 cents to $2.075 per gallon.

Henry Hub natural gas prices lost 8.5 cents to $4.186 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell to $2.87 per gallon Tuesday, down from Monday's $2.872, AAA said.

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