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Oil under $96 a barrel on US industrial data

Published on NewsOK Modified: February 15, 2013 at 2:08 pm •  Published: February 15, 2013

Retail gasoline prices have been rising steadily as oil prices have lingered in the upper 90's and many refineries have slowed operations for seasonal maintenance. That is crimping supplies and pushing up prices.

"The annual switchover from winter to summer grade product by the refineries at this time of the year always represents a balancing act with the availability of cheaper-to-produce winter grade supply often times being reduced too much in order to make room for summer grade product," said independent analyst Jim Ritterbusch.

In other energy futures trading on the Nymex:

— Heating oil fell 1 cent to finish at $3.21 a gallon.

— Wholesale gasoline rose 2 cents to end at $3.13 a gallon.

— Natural gas fell 1 cent to finish at $3.15 per 1,000 cubic feet.


Pamela Sampson in Bangkok, Pablo Gorondi in Budapest ND Martin Crutsinger in Washington contributed to this report.