Crude Oil In Holding Pattern


NEW YORK, (UPI) — West Texas Intermediate crude oil held to less than $80 per barrel Tuesday ahead of a European summit that could alter the economic landscape of the eurozone.

Regardless of the odds of a radical policy shift, which is not widely expected, traders are hunkering down, likely to avoid big moves until the Thursday and Friday summit is complete.

Crude oil for August delivery hit a trading session added 33 cents to $79.54 per barrel. Home heating oil added 2.68 cents to reach $2.5616 per gallon.

Reformulated blendstock gasoline gained 2.16 cents to $2.5198 per gallon.

Natural gas for July delivery shed 1.6 cents to $2.678 per million British thermal units.

At the pump, the national average price of unleaded gasoline fell to $3.397 Tuesday from Monday’s $3.411, AAA said.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.