Crude oil back above $83

Crude oil prices held above $83 per barrel in New York with a strong rebound from last week's trading turbulence, according to UPI. West Texas Intermediate crude oil for November delivery settled at $83.73 per barrel on the New York Mercantile Exchange after peaking at $84.62 overnight. Crude oil, however, lost more than $10 from a mid-September peak above $90 before last week's downturn. Oil has come back from a downturn prompted by last week's fall in equity markets and two companies, Eni of Italy and Total of France, saying they were returning to Libya to bring wells back into production that were abandoned during six months of civil unrest. Home heating oil prices in New York gained 0.65 cents to $2.8922 per gallon. Reformulated blendstock gasoline prices lost 0.53 cents to $2.6307 per gallon. Henry Hub natural gas prices lost 3.9 cents to reach $3.836 per million British thermal units. At the pump, the national average price of unleaded gasoline dropped to $3.465 per gallon Wednesday from Tuesday's $3.479, AAA said.