NEW YORK, Aug. 29 (UPI) -- Crude oil prices slid to less than $96 a barrel Wednesday after finance ministers from Group of Seven nations said they would keep markets amply supplied.
In a statement released Tuesday, the G7 ministers urged oil-producing countries to raise output. The group also applauded Saudi Arabia's pledge to increase production if necessary and said their own nations would be ready to draw on strategic oil reserves to keep prices from market-harming volatility.
On the New York Mercantile Exchange Thursday, West Texas Intermediate crude oil for October delivery shed 47 cents to $95.74 per barrel. Natural gas shed 0.4 cents to $2.629 per million British thermal units.
Home heating oil lost 0.79 cents to $3.1206 per gallon.
Reformulated blendstock gasoline lost 0.78 cents to $2.9255 a gallon.
At the pump, the average price for a gallon of regular unleaded gasoline was $3.804 per gallon Wednesday, up from Tuesday's $3.756, AAA reported.
