News : Business : Oil prices gain slightly on unstable day

Oil prices gain slightly on unstable day

Friday, 18-Jan-2008 06:00PM EDT
Story from United Press International. Copyright 2008 by United Press International (via ClariNet)

NEW YORK, Jan. 18 (UPI) -- Crude oil prices wavered Friday but gained slightly after U.S. President George Bush revealed his stimulus plan for the economy.

Futures for February delivery were up 43 cents at $90.56 a barrel on the New York Mercantile. Earlier, prices topped $91 but fell back.

Investors generally kept close watch on the stock market where prices also fluctuated and an early rally rapidly became another big loss.

Natural gas was off 0.13 cent at $7.95 per million British thermal units.

Heating oil was up 0.57 cent at $2.5092 a gallon. Reformulated gasoline blendstock rose 3.87 cents at $2.3055 a gallon.

U.S. motorists paid an average price of $3.033 a gallon for regular unleaded gasoline at the pump, compared with $3.044 on Thursday, the AAA Fuel Gauge Report said.

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