Oil Slips Slightly As Mideast Talks Continue
Brent, which had been climbing because of production delays in the North Sea, jumped as street protests in Egypt escalated. But over the weekend Brent slipped slightly below $100 and began a new week fluctuating around that psychological benchmark.
WTI traded above $90 a barrel this week, erasing the January retrenchment that had knocked the price down to the the low $80's. Monday morning WTI traded at about $88.58 a barrel.
US motorists, however, did not share in the relief. The average price for a gallon of gasoline remained at $3.12, the same as last week but 4% higher than January. It had been around $2.75 throughout most of 2010. For more information see our gasoline cost calculator page.
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