NEW YORK, Jan. 12 (UPI) -- Crude oil prices slipped to just under $81 per barrel on the New York Mercantile Exchange Tuesday, on concerns about slower growth in China.
Some traders view indications that the Chinese central bank will raise interest rates to slow the economy's growth rate as a red flag that demands for oil will decrease, The Wall Street Journal reported.
In New York, the price of light, sweet crude fell $1.55 to $80.97 per barrel. The price of heating oil shed 0.0403 cents to $2.1398 per gallon. Reformulated gasoline prices dropped 0.0237 cents to $2.119 per gallon.
Natural gas prices rose, adding 0.023 cents to $5.477 per million British thermal units.
At the pump, the national average price of gasoline was $2.751 per gallon Tuesday, up from Monday's $2.747, AAA said.
