Crude Oil Tops $80 a Barrel on the New York Mercantile Exchange

NEW YORK, Nov. 4 (UPI) — Crude oil topped $80 per barrel on the New York Mercantile Exchange Wednesday as the U.S. dollar dropped against the euro.

The euro reached $1.4788 from Tuesday’s $1.4712 in advance of the U.S. Federal Reserve’s announcement of its interest rate policy, which is due Wednesday afternoon.

Overnight, crude oil prices added 63 cents to $80.23 per barrel. Heating oil prices advanced 0.005 cents to $2.0783 per gallon. Reformulated blendstock gasoline prices gained 0.0085 cents to $2.0089 per gallon.

Natural gas prices lost 0.079 cents to $4.843 per million British thermal units.

At the pump, the national average price for unleaded gasoline dropped slightly from Tuesday’s $2.686 per gallon to $2.684, AAA said.

Copyright 2009 by United Press International

Categorized | Energy & Fuels, Natural Gas
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