NEW YORK (AP) — The price of oil fell to the lowest level in more than four months Friday as concerns over high supplies continued to discourage investors.
Benchmark U.S. crude for December delivery dropped $1.77 to close at $94.61 a barrel on the New York Mercantile Exchange. The 1.8 percent drop to start November follows a nearly 6 percent decline in the price of oil in the month of October.
Ample supplies of crude have weighed on the price in recent weeks. The Energy Department said Wednesday that U.S. supplies increased 4.1 million barrels last week. Over five weeks, supplies have risen by more than 25 million barrels.
Brent crude, a benchmark for international crude also used by U.S. refineries, fell $2.93 to $105.91 a barrel on the ICE Exchange in London.
In other energy futures trading on Nymex:
— Wholesale gasoline slipped 4 cents to $2.55 a gallon.
— Heating oil shed 7 cents to $2.88 a gallon.
— Natural gas dropped 7 cents to $3.51 per 1,000 cubic feet.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
There is a hearing Thursday in Buffalo about the use of medical marijuana. So far 20 states and Washington D.C. allow it.
News 4 is looking to see if police and firefighters were called to the same house overnight, for different incidents. Firefighters were on Goodyear Avenue putting out a fire around 3 a.m. Thursday.
Reverend Roy Harriger returned to court Wednesday night. The pastor is facing charges of molesting children.
Some of the members of his assembly refuse to believe the allegations against him. About eight members of the Community Fellowship …
In an effort to combat childhood obesity, a local school district is now banning a popular sweet treat.
This year, some local students are getting out their pens and paper to make sure other children have a happy holiday this year.
Crews will also be out dredging the Buffalo River on Thursday. They'll be in the city ship canal area.