NEW YORK, Sept. 8 (UPI) -- Crude oil prices in New York hit $74 per barrel Wednesday morning, as prices wavered with traders concerned about short term supply and long term demand.
An explosion at a Pemex refinery in Cadereyta, Mexico, killed at least one worker and put traders on alert for a short-term supply disruption. Long-term concerns involve a stalled economic recovery, which points to a slowdown in demand in China, Europe and the United States.
On the New York Mercantile Exchange, October delivery light, sweet crude dropped 49 cents from an overnight high to $74 per barrel. Heating oil prices added 0.0058 cents to $2.0810 per gallon. Reformulated gasoline prices gained 0.0029 cents to $1.9358 per gallon.
Henry Hub natural gas prices for October shed 0.032 cents to $3.82 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.68 per gallon Wednesday, down from Tuesday's $2.682, AAA said.
