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Latest Crude oil prices news and updates

Money Matters - Simplified

Crude oil prices

Fed move sparks oil price jump

New York -- Crude oil prices topped $86 per barrel overnight as investors in Asia and Europe reacted to the U.S. Federal Reserves $600 billion Treasury purchasing program.

The Fed said it would spend $75 billion a month through June, a larger sum than many had anticipated. The move has the likely effect of weakening the U.S. dollar, which would help U.S. exporters and drive up prices of imports, like oil, which is priced in U.S. currency.

Crude oil prices gain overnight

New York -- Crude oil prices moved higher in New York after Election Day with traders anticipating a new round of quantitative easing by the U.S. Federal Reserve.

Investors have been anticipating a new round of Fed bond purchasing since August when Fed Chairman Ben Bernanke began hinting more purchases were a possibility.

The Fed's Open Market Committee is scheduled to announces its decision Wednesday. For many, the only surprise will be the size of the package.

December delivery crude oil added 42 cents overnight on the New York Mercantile Exchange to $84.25 per barrel. Heating oil prices rose 1.65 cents to $2.3101 per gallon. Reformulated gasoline blendstock gained 0.55 cents to $2.1151 per gallon.

Crude oil heads higher on weak dollar

New York -- Crude oil prices topped $84 per barrel overnight in New York with investors optimistic that demand was strong.

Key manufacturing indexes in China and the United States showed expanding business activity Monday. Oil prices have also found support from a weaker dollar. The dollar index on Tuesday morning fell 0.71 percent.

Crude oil prices hold steady Tuesday

New York -- Crude oil prices held steady above $82 per barrel New York, despite the dollar index rising 0.77 percent.

After two days of gains on a weaker dollar, December delivery crude oil prices lost 8 cents on the New York Mercantile Exchange to $82.44 per barrel. Heating oil prices shed 1.08 cents from a recent settlement to $2.2633 per gallon. Reformulated gasoline prices added 0.42 cents to $2.0715 per gallon. Henry Hub natural gas prices added 2.4 cents to $3.341 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $2.81 per gallon Tuesday from Monday's $2.813, AAA said.

Copyright 2010 United Press International, Inc. (UPI).

Crude oil prices drop overnight

New York -- Crude oil prices slid overnight in New York, dropping to $82 per barrel despite a surprisingly strong gross domestic product gain in Britain.

The National Office of Statistics in London said the GDP rose 0.8 percent in the third quarter in Britain, twice as fast as economists had predicted.

After two days of gains on a weaker dollar, December delivery crude oil prices lost 55 cents on the New York Mercantile Exchange to $81.97 per barrel. Heating oil prices shed 0.82 cents to $2.2659 per gallon. Reformulated gasoline prices lost 0.43 cents to $2.063 per gallon. Henry Hub natural gas prices added 7.1 cents to $3.388 per million British thermal units.

Crude oil prices rise Monday

New York -- Crude oil prices rose during the weekend, adding $1.39 to reach $83.08 per barrel in New York Monday as the dollar weakened.

The Group of 20 finance ministers' summit in South Korea during the weekend ended with an agreement to connect currency rate exchanges to market forces, but the specific formula may be months or years away. Germany insisted U.S. Treasury Secretary Timothy Geithner's suggestion of connecting exchange rates to current account surpluses was not viable, The Wall Street Journal reported Monday.

Crude oil prices climb Friday

New York -- Crude oil prices rolled higher Friday in New York, adding $1.35 cents to $81.91 per barrel, with the dollar index flat, off 0.04 percent.

Currency exchange rates were a key debate point for financial leaders of Group of 20 Nations meeting in Seoul Friday. The dollar responded with minor drops against most currencies, gaining only against the Brazilian real and the Israeli shekel among major currencies.

A lofty proposal by U.S. Treasury Secretary Timothy Geithner to link trade surpluses to exchange rates with a specific formula was unlikely to find consensus. Several nations with trade surpluses have already voiced disapproval of the concept.

Crude oil prices climb Friday morning

New York -- Crude oil prices rolled higher Friday morning in New York, adding 99 cents to $81.55 per barrel, with the dollar index flat, off 0.04 percent.

Currency exchange rates are expected to be a key debate point for financial leaders of Group of 20 Nations meeting in Seoul this weekend. But an agreement on a lofty proposal by U.S. Treasury Secretary Timothy Geithner to link trade surpluses to exchange rates with a specific formula is unlikely to find consensus. Several nations with trade surpluses have already voiced disapproval of the concept.

On the New York Mercantile Exchange, heating oil prices added 2.09 cents overnight to $2.2539 per gallon. Reformulated blendstock gasoline prices added 2.22 cent to $2.0522 per gallon.

Crude oil prices slip

New York -- Crude oil prices slid to under $81 per barrel on the New York Mercantile Exchange, a correction prompted by a $2.34 price run-up Tuesday.

The dollar index, a pro-rated measurement against six major currencies, also undermined prices, rising 0.38 percent.

December delivery light, sweet crude oil dropped $1.73 to $80.81 per barrel. Heating oil prices also corrected lower, lost 3.19 cents to $2.241 per gallon. Reformulated gasoline blendstock lost 5.29 cents to $2.04 per gallon.

Henry Hub natural gas prices lost 1.44 cents to $3.395 per million British thermal units.

At the pump, the national average price of unleaded gasoline was unchanged Thursday at $2.831 per gallon, AAA said.

Crude oil prices slip overnight

New York -- Crude oil prices slid overnight to close to $82 per barrel on the New York Mercantile Exchange, a correction prompted by a $2.34 price run-up Tuesday.

December delivery light, sweet crude oil dropped 47 cents to $82.07 per barrel. Heating oil prices also corrected lower, losing 0.24 cents to $2.2705 per gallon. Reformulated gasoline blendstock lost 0.12 cents to $2.0717 per gallon.

Henry Hub natural gas prices lost 6.9 cents overnight to $3.47 per million British thermal units.

At the pump, the national average price of unleaded gasoline was unchanged Thursday at $2.831 per gallon, AAA said.

Copyright 2010 United Press International, Inc. (UPI).


Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

Warning: Table './themoney_2011new/watchdog' is marked as crashed and last (automatic?) repair failed query: INSERT INTO watchdog (uid, type, message, variables, severity, link, location, referer, hostname, timestamp) VALUES (0, 'php', '%message in %file on line %line.', 'a:4:{s:6:\"%error\";s:12:\"user warning\";s:8:\"%message\";s:325:\"Table 'themoney_2011new.accesslog' doesn't exist\nquery: INSERT INTO accesslog (title, path, url, hostname, uid, sid, timer, timestamp) values('Crude oil prices', 'taxonomy/term/1356', '', '54.147.44.13', 0, '0a8e3e8d4e8c4e43d94bc1d3199c6d21', 3631, 1454710352)\";s:5:\"%file\";s:63:\"/home/themoney/public_html/modules/statistics/statistics.module\";s:5:\"%line\";i:63;}', 3, '', 'http://www.themoneytimes.com/tags/crude_oil_prices?page=2 in /home/themoney/public_html/includes/database.mysql.inc on line 135