Crude oil prices climbed past $85 per barrel in New York as traders kept an eye on tensions in the Middle East.
Wednesday's inventory report showed U.S. stockpiles rose by 900,000 barrels in the week ending Feb. 11, but spreading unrest in the Middle East has traders concerned about a supply-chain disruption.
On Wednesday it was reported that Iran had sent warships through the Suez Canal, exacerbating tensions, The Wall Street Journal reported.
On the New York Mercantile Exchange, March delivery light, sweet crude oil added 85 cents to $85.17 per barrel. Home heating oil prices added 0.25 cents from a prior settlement to $2.7773 per gallon. Reformulated blendstock gasoline prices shed 0.47 cents to $2.54 per gallon.
Henry Hub natural gas prices for March delivery shed 0.005 cents to $3.921 per million British thermal units.
At the pump, the national average price for unleaded gasoline rose to $3.133 per gallon Wednesday from Tuesday's $3.124, AAA said.
