Crude Oil Holds At $83
June 4, 2012 by UPI - United Press International, Inc.
NEW YORK, (UPI) — Oil prices held close to $83 per barrel in New York Monday on continued worries of economic stability in Europe.
Greece has set June 17 as the date of its next national election, which could decide whether the country exits the eurozone. At the same time, various European leaders are pressing Spain to accept help for its ailing banks while Premier Mariano Rajoy continues to insist Spain can manage without international assistance.
On the New York Mercantile Excahge, West Texas Intermediate crude oil for July delivery lost 23 cents to $83 per barrel. Natural gas for July delivery added 5.8 cents to $2.384 per million British thermal units.
Home heating oil lost $1.07 cents to $2.6172 per gallon.
RBOB gasoline futures for July delivery were off 5.5 cents to $2.6513 per gallon.
At the pump, the national average price of unleaded gasoline dropped to $3.585 per gallon from Sunday’s $3.59, AAA said.