MARCH 27 2012 17:13h
Crude oil tops $107
Beyond supply and demand, concern over Iran's alleged nuclear weapons program and international sanctions to force a solution is the dominating factor in the oil market.
On the New York Mercantile Exchange, May delivery West Texas Intermediate light sweet crude added 42 cents overnight to $107.45 per barrel. Home heating oil shed 3.5 cents to $3.243 per gallon. Reformulated gasoline lost 0.57 cents to $3.393 per gallon.
Henry Hub natural gas prices lost 3.3 cents to $2.193 per million British thermal units.
The national average price of unleaded gasoline rose 1 tenth of a penny, reaching $3.898 per gallon Tuesday, up from Monday's $3.897, AAA said.
NEW YORK, March 27 (UPI) -- Crude oil prices topped $107 per barrel Tuesday with prices propped above $105 as political tensions continue in the Middle East.