NEW YORK, Feb. 13 (UPI) -- Crude oil prices held at more than $97 per barrel Wednesday on the New York Mercantile Exchange as traders contemplate various demand estimates.
The Organization of Petroleum Exporting Countries and Energy Information Administration have raised their demand expectations for 2013, while the International Energy Agency in Paris predicted a drop of 90,000 barrels per day in global demand.
An upswing in equity markets since the turn of the new year has given commodity markets strength but the run up has begun to wobble, if not stall. The EIA on Wednesday is to release its weekly report on U.S. inventories.
West Texas Intermediate crude oil for March delivery added 29 cents overnight to $97.80 per barrel.
Reformulated blendstock gasoline gained 3.01 cents to $3.0751 per gallon. Heating oil added 0.08 cents to $3.237 per gallon.
Natural gas was added 2.4 cents to $3.277 per million British thermal units.
At the pump, the national average price of unleaded gasoline, up for eight consecutive weeks, rose to $3.618 per gallon from Tuesday's $3.604 per gallon, AAA said.
