Oil prices fell on Friday after a report that suggested that a release from strategic oil reserves is more likely. Putting more oil supply on the market would drive down prices. The news reversed gains from earlier in the day driven by worries about Tropical Storm Isaac's impact on Gulf of Mexico petroleum operations.
On the New York Mercantile Exchange:
Benchmark crude fell 12 cents to end at $96.15 per barrel.
Wholesale gasoline rose a penny to $3.12 per gallon.
Heating oil fell 2 cents to $3.12 per gallon.
Natural gas fell 10 cents to finish at $2.71 per 1,000 cubic feet.
On the ICE Futures exchange in London:
Brent crude fell 37 cents to end at $113.22 per barrel.