Crude oil gains a little back

Crude oil prices made a slight comeback on the New York Mercantile Exchange Tuesday, nearing $83 per barrel. Crude oil dropped sharply Monday after the White House said the market could tolerate less oil from Iran due to slower demand and increased production from some oil-producing states. In addition, Saudi Arabia, the largest producer among the Organization of Petroleum Exporting Countries oil cartel, said Monday production quotas should be lifted, a proposal that would likely clash with supply hawks pushing for tight quotas to keep prices high. On Monday, West Texas Intermediate crude oil for July delivery in New York added 12 cents to $82.82 per barrel. Natural gas gained 1.9 cents to hit $2.237 per million British thermal units. Home heating oil rose 2.8 cents to $2.6385 per gallon. Gasoline moved 1.28 cents lower to reach $2.6438 a gallon. At the pump, the national average price of unleaded gasoline rose to $3.542 per gallon from Monday's $3.54, AAA said.