Crude oil prices fell slightly to $125.39 a barrel, Wednesday on the New York Mercantile Exchange after a research group indicated demand for oil was slowing.

For the second consecutive month, the International Energy Agency decreased its prediction of accelerated demand for oil, which it sees as growing at 1.03 million barrels a day, down from a previous growth estimate of 1.26 million barrels a day, The Wall Street Journal reported.

On the New York Mercantile Exchange Wednesday morning, crude oil prices fell 41 cents to $125.39 per barrel. Heating oil prices rose 0.0061 cents to $3.705 per gallon. The price of reformulated gasoline blendstock fell 0.008 cents to $3.192 per gallon. Natural gas prices rose 0.28 cents to $11.702 per million British thermal units.

The price at the pump climbed to a national average record $3.758 for a gallon of unleaded regular gasoline, up from Tuesday's price of $3.732 a gallon, AAA reported.

Copyright 2008 by United Press International


Publication date: 14 May 2008   

Source: UPI-1-20080514-08380200-bc-us-energyprices.xml

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