Energy prices in New York turned bullish Wednesday with prices dancing around $86 per barrel, as equities gained in much of Asia and most of Europe.
Despite a setback in the eurozone's nation-by-nation march to ratify an expanded program for international bailout funds -- Slovakia, the last of 17 nations to vote, turned it down -- European leaders are pressing forward with proposals on bank recapitalization. In addition, Slovakia may hold a second vote on the bailout measure if members of parliament strike a deal on national elections, The Wall Street Journal reported.
On the New York Mercantile Exchange, November delivery West Texas Intermediate crude oil peaked at $86.59 per barrel overnight, before settling at $85.71. Home heating oil prices added 2.13 cents to $2.925 per gallon. Reformulated blendstock gasoline prices shed 0.43 cents to $2.7433 per gallon.
Natural gas prices lost 3.9 cents to reach $3.577 per million British thermal units.
At the pump, the national average price of unleaded gasoline rose for the second consecutive day, climbing to $3.405 per gallon from Tuesday's $3.396, AAA said.