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Oil prices surge Fridayby MT Bureau - May 17, 2008 - 0 comments
New York -- A week of falling crude oil prices ended abruptly Friday as speculator interest caused prices to surge on the New York Mercantile Exchange. "There's still a strong feeling that any dip in the market is an opportunity to buy," energy analyst Gene McGillian told The Wall Street Journal Friday. Oil prices had already jumped $2.01 per barrel in overnight trading. Reformulated blendstock gasoline prices rose 0.0046 cents to $3.2281 per gallon. The price of natural gas also fell slightly, down 0.013 cents to $11.081 per million British thermal units. At the pump, the national average price for a gallon of unleaded regular gasoline climbed to a record $3.787 per gallon, up from Thursday's $3.776 per gallon, AAA reported. Copyright 2008 by United Press International. Post new comment |
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