Published On: Sat, Sep 10th, 2011

Crude oil holds at $87

Crude oil prices slid overnight, then held steady Friday after President Barack Obama proposed a $447 billion economic stimulus bill.

Stocks were down in Asia and Europe Friday and closed sharply lower on Wall Street, as investors failed to react with confidence to the president’s plan.

October delivery West Texas Intermediate crude oil prices on the New York Mercantile shed 23 cents in late trading to reach $87.01 per barrel. Home heating oil lost 0.8 cents to $2.985 per gallon. Reformulated blendstock gasoline shed 0.35 cents to $2.7675 per gallon.

Henry Hub natural gas prices added 0.5 cents to $3.92 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.659 per gallon from Thursday’s $3.655, AAA said.

 

Source : www.upi.com