Crude oil prices headed toward $68 per barrel on the New York Mercantile Exchange Thursday after the government said oil inventories had risen in the week.
The U.S. Energy Information Administration said demand for gasoline was up 4.5 percent over a four-week rolling average in the week ending Sept. 19, compared to the same period a year ago.
But supplies were also up. Crude oil stockpiles rose 2.8 million barrels in the week. Gasoline inventories rose by 5.4 million barrels, the EIA said Wednesday.
Overnight, the price of light, sweet crude dropped 41 cents to $68.56 per barrel. Heating oil prices lost 0.0124 cents to $1.747 per gallon. Reformulated gasoline prices fell 0.0091 cents to $1.6958 per gallon. Natural gas prices slipped 0.017 cents to $3.843 per million British thermal units.
At the pump, the national average price for unleaded gasoline was $2.534 a gallon Thursday, down from Wednesday's $2.54, AAA said.
