NEW YORK, Dec. 23 (UPI) -- Crude oil prices jumped above $75 per barrel on the New York Mercantile Exchange Wednesday in advance of a weekly U.S. inventory report.
The Organization of Petroleum Exporting Countries meeting in Luanda, Angola, Tuesday left production quotas unchanged, a decision that effects roughly 40 percent of the world's oil production. Oil ministers at the meeting expressed satisfaction with oil prices, which have more than doubled since January.
In New York Wednesday, the price of light, sweet crude rose $1.06 to $75.46. The price of heating oil added 0.0296 cents to $4.9782 per gallon. Reformulated gasoline prices rose 0.0362 cents to $1.925 per gallon. Natural gas prices fell 0.098 cents to $5.619 per million British thermal units.
At the pump, the national average price of unleaded gasoline fell slightly to $2.584 per gallon, down from Tuesday's $2.585, AAA said.
