Oil gains on forecasts for Northeast cold spell

Published on NewsOK Modified: January 14, 2013 at 3:22 pm •  Published: January 14, 2013
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With oil prices holding fairly steady, U.S. drivers could reliably gauge their costs at the pump in the year's first two weeks. The national average Monday was about $3.30 a gallon, up just a penny since Jan. 1.

Brent crude, used to price international varieties of oil, gained $1.24 to finish at $111.88 per barrel on the ICE Futures exchange in London.

In other energy futures trading on the Nymex:

— Wholesale gasoline rose 1 cent to end at $2.75 a gallon.

— Natural gas rose 4.6 cents to finish at $3.37 per 1,000 cubic feet, continuing a rally from late last week.

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AP Business Writer Pamela Sampson in Bangkok contributed to this report.