Money Matters - Simplified

Energy

Crude oil approaching $90

New York -- Crude oil prices climbed past $89 per barrel on the New York Mercantile Exchange Friday on a rally in equities and a drop in the dollar index of 1.4 percent.

January delivery light, sweet crude oil added $1.34 to reach $89.34 per barrel. Heating oil prices gained 4.09 cents to $2.4955 per gallon. Reformulated gasoline blendstock prices rose 0.06 cents to $2.3559 per gallon.

Henry Hub natural gas prices shed 2.6 cents to $4.317 per million British thermal units.

At the pump, the national average price of unleaded gasoline reached $2.90 per gallon from Thursday's $2.879, AAA said.

Copyright 2010 United Press International

EnerNoc Goes International With UK Deal

 EnerNoc (Nasdaq: ENOC), the demand response/energy management company, is taking its show on the road. The company will participate in the Low Carbon London project sponsored by UK Power Networks. EnerNoc will deploy various applications from its DemandSmart suite to help curb and monitor power in buildings and within organizations participating in the smart city trial that runs from January 2011 until June 2014.

 

Crude oil headed toward $88 per barrel

New York -- Crude oil prices headed toward $88 per barrel on the New York Mercantile Exchange Thursday as the European Central Bank kept lending rates unchanged.

The ECB left its bank-to-bank lending rate at 1 percent, as investors kept an eye on the ongoing debt crisis in Europe.

In New York, January delivery light, sweet crude prices added $1.12 cents to $87.87. Heating oil prices gained 4.04 cents to $2.446 per gallon. Reformulated gasoline blendstock prices picked up 4.72 cents to $2.3476 per gallon. Henry Hub natural gas prices gained 8.6 cents to $4.355 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose sharply, adding 1.5 cents from Wednesday's $2.864 per gallon to reach $2.879, AAA said.

Crude oil prices jump on weaker dollar

NewYork -- Crude oil prices followed equities higher Wednesday on the New York Mercantile Exchange, closing in on $87 per barrel.

After several jittery days, equities rose in Asia, Europe and the United States. Oil also found support from a weaker dollar. The dollar index fell 0.64 percent Wednesday.

January delivery light, sweet crude oil added $2.60 to $86.71 per barrel.

Heating oil prices gained 7.76 cents to $2.402 per gallon. Reformulated gasoline blendstock prices rose 11.52 cents to $2.302 per gallon. Henry Hub natural gas prices added 1.22 cents to $4.302 per million British thermal units.

Crude oil prices head higher

NewYork -- Crude oil prices followed equities higher Wednesday on the New York Mercantile Exchange, closing in on $86 per barrel.

After several jittery days, equities rose in Asia and Europe. Oil also found support from a shifting balance between the U.S. dollar and the euro, which traded at $1.3117 from Tuesday's $1.2981.

January delivery light, sweet crude oil added $1.64 to $85.75 per barrel.

Heating oil prices gained 4.8 cents to $2.3724 per gallon. Reformulated gasoline blendstock prices rose 6.74 cents to $2.2542 per gallon. Henry Hub natural gas prices rose 1.3 cents to $4.193 per million British thermal units.

Crude oil prices head higher

NewYork -- Crude oil prices followed equities higher Wednesday on the New York Mercantile Exchange, closing in on $86 per barrel.

After several jittery days, equities rose in Asia and Europe. Oil also found support from a shifting balance between the U.S. dollar and the euro, which traded at $1.3117 from Tuesday's $1.2981.

January delivery light, sweet crude oil added $1.64 to $85.75 per barrel.

Heating oil prices gained 4.8 cents to $2.3724 per gallon. Reformulated gasoline blendstock prices rose 6.74 cents to $2.2542 per gallon. Henry Hub natural gas prices rose 1.3 cents to $4.193 per million British thermal units.

Crude oil prices slide under $85

New York-- Crude oil prices lost ground Tuesday on the New York Mercantile Exchange, dropping under $85 per barrel despite a stronger U.S. dollar.

Oil traders are balancing out concerns of diminished expectations for growth in Europe given the ongoing debt crisis that resulted in a financial bailout for Ireland this week and indications that China is considering policy adjustments to slow inflation.

The European Commission said Monday that growth in Europe was expected to be "muted" through 2012 with the gross domestic product gaining 1.75 percent in 2011 and 2 percent in 2012.

Crude oil prices hold under $84

New York -- Crude oil prices held steady under $84 per barrel Monday on the New York Mercantile Exchange.

January delivery crude oil in New York added only 7 cents from Friday to $83.77. Heating oil prices gained 0.69 cent to $2.3399 per gallon.

Reformulated blendstock gasoline added 1.48 cent to $2.1732 per gallon.

Henry Hub natural gas prices shed 1.2 cent to $4.387 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $2.857 per gallon from Sunday's $2.86, AAA said.

Copyright 2010 United Press International

BP sells Argentina oil venture to Bridas

New York -- British oil producer BP is selling its majority stake in Pan American Energy to Bridas for $7.1 billion in cash, the companies announced Sunday.

Pan American Energy is one of the largest energy companies in Argentina, and the sale will bolster the fund BP is using to pay off damages caused by the well blowout in the Gulf of Mexico earlier this year, The New York Times said.

The transaction did not include PAE's holdings in Bolivia.

Workouts shed pounds, add wattage

Portland -- The calories burned by exercisers are not going to waste at a new breed of "green gyms."

At the Green Microgym in Portland, Ore., the stationary bikes and elliptical machines recapture the energy patrons create while pedaling, convert it into electricity and channel it back into power outlets, Time magazine reports.

An average workout there generates 37.5 watt hours, which owner Adam Boesel says can power a phone for a week. The gym does not yet produce enough electricity to be carbon-neutral, but if all the equipment is being used at once, it can produce 10 times the amount needed to run the facility at any given moment.