NEW YORK, Nov. 19 (UPI) -- Crude oil prices dropped to nearly $79 per barrel overnight in part because the weather has been nice, industry analysts said.
The price of December delivery light, sweet crude "fell below $80 per barrel, as the U.S. dollar rebounded against the euro, and unseasonably mild weather in the United States raised concerns about crude oil demand levels," wrote analysts at Sucden Financial Research, MarketWatch reported Thursday.
Overnight, crude oil prices shed 54 cents to $79.04 per barrel. Heating oil prices lost 0.0077 cents to $2.0409 per gallon. Reformulated gasoline lost 0.0092 cents to $2.0022 per gallon. Natural gas prices dropped 0.042 cents to $4.212 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.638 per gallon Thursday, up from Wednesday's $2.632, AAA said.
