AUTHOR upi.com



AUGUST 4 2011 16:13h

Crude oil settles near $91 a barrel

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NEW YORK, Aug. 4 (UPI) -- Crude oil prices fell to nearly $91 per barrel in New York Thursday morning as U.S. stockpiles increased in the latest weekly report.

The U.S. Energy Information Administration said stockpiles of crude oil rose by 1 million barrels to 355 million barrels in the week ending last Friday.

West Texas Intermediate crude oil dropped 72 cents overnight to $91.21 per barrel. Home heating oil prices shed 1.29 cents to $3.006 per gallon. Reformulated blendstock gasoline prices lost 3.01 cents to $2.9012 per gallon. Natural gas prices gained 0.3 cents to $4.083 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose to $3.703 per gallon from Wednesday's $3.701, AAA said.