Sat, 24/07/2010 - 03:04 by Prince damin
New York -- Crude oil prices slipped below $79 per barrel in New York Friday as investors watched approaching Tropical Storm Bonnie in the Gulf of Mexico.
Prices for September delivery light sweet crude settled 32 cents lower at $78.98 a barrel on the New York Mercantile Exchange. The price of front contract New York Harbor No. 2 heating oil declined 0.087 cents to $2.0808 per gallon. Reformulated blendstock gasoline prices slipped, losing 0.0244 cents to $2.1222 per gallon.
Henry Hub natural gas prices lost 0.087 cents to $4.556.
At the retail level, the national average price for a gallon of unleaded gasoline was unchanged Friday at $2.718 per gallon, AAA said.
Copyright 2010 United Press International, Inc. (UPI).
Mon, 19/07/2010 - 22:01 by Inderjit Singh
New York -- Crude oil prices climbed above $77 per barrel Monday morning on the New York Mercantile Exchange.
August delivery light, sweet crude added $1.26 to reach $77.26 per barrel, up 1.6 percent.
New York Harbor No. 2 heating oil traded up 0.042 cents to $2.0533 per gallon.
Reformulated blendstock gasoline added 0.0429 cents to $2.0915 per gallon.
Henry Hub natural gas prices lost 0.15 cents to $4.504 per million British thermal units.
The national average retail price for unleaded gasoline dropped to $2.722 per gallon from Sunday's $2.723, AAA said.
Copyright 2010 United Press International.
Sat, 10/07/2010 - 02:59 by Pankaj Damin
New York -- Crude oil prices closed Friday trading on the New York Mercantile Exchange on a high note, posting a 65-cent gain to $76.09 per barrel.
Crude prices were reacting to news that demand looked positive and U.S. supplies were down. The Energy Information Administration said Thursday U.S. crude oil supplies dropped by 5 million barrels in the week ending July 2.
Natural gas also finished the week's trading up, finishing at $4.415, up 0.016 cents, per British thermal unit.
Gasoline posted a 2-cent gain and finished Friday's trading at $2.09 a gallon. New York Harbor No. 2 heating oil also finished the week's trading in positive territory, closing up 0.0247 cents at $2.0304.
Thu, 08/07/2010 - 03:41 by Pankaj Damin
New York -- Crude oil prices shot up higher Wednesday, coming close to $75 per barrel on the New York Mercantile Exchange.
Commodities followed U.S. equity markets, which surged on Wall Street, the Dow Jones industrial average adding 274 points to close above 10,000 for the first time since June 28.
Oil prices also found support from the weaker dollar. The dollar index fell 0.15 percent Wednesday.
Sat, 26/06/2010 - 08:03 by harsheeb
New York -- Crude oil prices closed up 3.1 percent Friday, at $78.86 a barrel on the New York Mercantile Exchange amid fears of a possible Caribbean tropical storm.
It was the commodity's largest one-day gain since June 9, MarketWatch.com said.
The weekly gain of 2.2 percent marks the third straight weekly rise.
"We are putting some storm premium ahead of the weekend," as a potentially powerful storm bears down on the Gulf of Mexico, threatening production and refining operations there, Jim Ritterbusch with Ritterbusch and Associates of Galena, Ill., told MarketWatch.
Gasoline prices rose 7 cents, or 3.4 percent, to $2.15 a gallon. It was gasoline's largest one-day gain since May 27, and brought weekly gains to 0.5 percent.
Tue, 27/04/2010 - 09:06 by harsheeb
New York -- Crude oil prices fell to just under $84 per barrel Monday on the New York Mercantile Exchange as the dollar index rose 0.16 percent.
Stocks were mostly higher Monday in Asia and Europe. But stocks were flat on Wall Street to start the week.
Crude oil prices for June delivery lost 24 cents from a late settlement to $83.96 per barrel. Heating oil prices for June lost 0.0022 cents in New York to $2.2615 per gallon. Reformulated gasoline blendstock prices for June lost 0.0006 cents, $2.3447 per gallon. Henry Hub natural gas prices for June slid 0.033 cents to $4.318 per million British thermal units.
Tue, 13/04/2010 - 23:55 by harsheeb
New York -- Crude oil for May delivery dropped below $84 a barrel in New York Tuesday on concerns that global supplies were adequate.
Commodity analyst Edward Meir, in an investment note, said "There is an excessive amount of oil on the markets, as OPEC has fallen short of enforcing its output cuts," MarketWatch reported
"Although demand is starting to come back, it has yet to make a significant dent in stockpiles," Meir wrote.
Wed, 07/04/2010 - 09:46 by Pankaj Damin
New York -- Crude oil for May delivery turned higher in late trading in New York with prices again coming close to $87 per barrel.
The price of May delivery peaked in intra-session trading at $87.09 per barrel before settling down. In late trading, however, prices turned higher again, gaining 10 cents to $86.72.
Strong economic data, including a rise in a key U.S. index of non-manufacturing business activity, have given evidence an economic recovery is for real and demand will increase.
Sat, 06/03/2010 - 08:09 by harsheeb
New York -- Crude oil prices topped $81 a barrel Friday on the New York Mercantile Exchange, closing at $81.50 a barrel, up $1.29 for the trading session.
Analysts said the higher price was boosted by U.S. jobs data and positive comments from Chinese officials about economic growth, MarketWatch reported.
"In addition to the jobs data, which was supportive, we also have the specter of geopolitical concerns in the market," said Bill O'Neill, managing partner at Logic Investment Services.
The Labor Department said the nation's unemployment rate held steady at 9.7 percent.
Also on Friday, Chinese Prime Minister Wen Jiabao told the Chinese Legislature he would maintain an 8 percent growth rate for the economy this year, MarketWatch said.
Thu, 04/03/2010 - 08:00 by harsheeb
New York-- Crude oil prices reached $81 per barrel on the New York Mercantile Exchange, as the dollar index fell 0.64 percent Wednesday.
As expected, the Energy Information Administration said U.S. stockpiles rose in the week.
EIA said crude oil supplies rose by 4.1 million barrels in the week ending Feb. 26. Gasoline inventories rose by 700,000 barrels.
April delivery of light, sweet crude oil gained 1.33 to $81.01 per barrel. Heating oil prices gained 0.0359 cents to $2.092 per gallon. Reformulated gasoline prices rose 0.0459 cents to $2.2425 per gallon. Natural gas prices added 0.05 cents to $4.758 per million British thermal units.
Fri, 26/02/2010 - 20:41 by Inderjit Singh
New York -- Crude oil prices held above $78 per barrel early Friday on the New York Stock Exchange, with the dollar index down slightly.
The dollar index, measuring the greenback against a basket of currencies, was down 0.14 percent early. Oil prices, meanwhile, have found a new holding pattern, hovering near $79 since mid-February.
April delivery, light, sweet crude oil lost 6 cents to $78.11 per barrel.
Heating oil prices added 0.0043 cents to $1.9905 per gallon. Reformulated gasoline prices rose 0.0089 cents to $2.0459 per gallon. Henry Hub natural gas prices gained 0.004 cents to $4.771 per million British thermal units.
Wed, 24/02/2010 - 21:04 by Inderjit Singh
New York -- Crude oil prices dropped under $79 per barrel overnight Wednesday in New York on reports indicating demand was low.
"A sharp drop in low sulfur distillate demand is a concern," American Petroleum Institute Chief Economist John Felmy said in a recent report. "Economic recovery is still mixed," he said.
April delivery light, sweet crude lost 17 cents to $78.69 Wednesday. Heating oil prices, lost 0.0059 cents to $2.0264 per gallon. Reformulated gasoline blendstock prices shed 0.0049 cents to $2.0607 per gallon. Henry Hub natural gas prices rose 0.028 cents to $4.806 per million British thermal units.