Crude oil settles after 7-day rally

Crude oil prices dipped to less than $92 per barrel Friday with the downward correction prompted by a seven-day price rally. China said its crude oil supplies rose 5 percent in June, contributing to the negative sentiment. On the New York Mercantile Exchange, crude oil for August delivery lost $1.32 to $91.65 per barrel. Heating oil on the exchange shed 2.28 cents to $2.9242 per gallon. Natural gas added 2 cents to $3.019 per million British thermal units, while reformulated blendstock gasoline lost 2.61 cents to $2.9128 per gallon. At the pump, the national average price of unleaded gasoline added 1 cent overnight to $3.447 per gallon, AAA said.