Crude oil prices mixed to end year

Crude oil prices were mixed on Monday.

While the Energy Information Administration dropped its forecast for demand growth next year, it also estimated that crude oil will average around $85 per barrel next year and that gasoline prices will average $3.11 per gallon and peak at above $3.40 per gallon.

Crude prices averaged $72 per barrel this year, and prices are 57 percent higher than they were at the beginning of the year.

Just before the close of trade on the New York Mercantile Exchange, West Texas Intermediate crude for February delivery was 10 cents lower than Friday’s close at $95.90 per barrel, while February contracts for Brent crude added 36 cents to $94.24 per barrel on the ICE Futures Europe exchange in London.

Nymex February gasoline and heating oil each added 2 cents, to $2.49 per gallon and $2.65 per gallon respectively, while March natural gas was up 14 cents to $7.55 per million British thermal units.

At-the-pump prices for gasoline in the United States added 4.6 cents over the weekend to average $3.046 per gallon across the country.

Pump prices averaged $2.79 per gallon this year, 8.6 percent higher than the $2.57 average in 2006.