Home

Crude oil prices finish session, week down

Sat, 16/10/2010 - 10:40 by Rakhi

New York -- Crude oil prices closed out Friday and the week lower on the New York Mercantile Exchange, settling at $81.25 a barrel, off $1.44.

During trading, crude oil prices had been around $83 per barrel after the Organization of Petroleum Exporting Countries left production quotas unchanged.

Oil ministers from the OPEC cartel met in Vienna Thursday, electing to keep production steady, citing the uncertainty of the global economic recovery.

Natural gas also was off, tumbling 12 cents to $3.535 per million British thermal units.

Gasoline also was off, dipping 3 cents to close at $2.10 a gallon.

Home heating oil also ended the trading session down, closing at $2.2357 a gallon, a loss of 5 cents.

At the pump, the national average price of unleaded gasoline added half a cent, climbing to $2.833 per gallon from Thursday's $2.828, AAA said.

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

No votes yet