Oil Prices: Hold @ $107 - WAOW - Newsline 9, Wausau News, Weather, Sports

Oil Prices: Hold @ $107


NEW YORK (AP) -- Oil prices waver between small gains and losses on more warnings of weak global demand, as retail gasoline prices continue to climb.

Gas pump prices on Tuesday hit a national average of $3.84 per gallon for regular.

Saudi Arabia's oil minister told reporters that demand has dropped for his country's oil and that there appears to be a surplus on the global market. And Bank of America analyst Francisco Blanch said "a number of industries and countries" are struggling with high fuel prices.

Benchmark crude rose 2 cents to $107.14 per barrel in the final day of trading the May contract on the New York Mercantile Exchange. Oil for June delivery lost 6 cents at $107.63 per barrel.

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