Thu, 23/09/2010 - 04:24 by harsheeb
New York -- Crude oil prices headed higher Wednesday in New York, breaking back above $74 per barrel as the U.S. dollar continued to weaken.
The dollar index dropped 1.16 percent Tuesday and was recently down 0.8 percent. The dollar index, which measures the dollar against six major currencies, has been in decline since early June, when the index measured its high for the year at 88.575.
On Tuesday, the index, which found a brief respite in late August, fell to 79.719.
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Wed, 22/09/2010 - 23:46 by Shruti Sharma
Washington -- U.S. crude oil inventories rose by 1 million barrels in the week ending Sept. 17, the U.S. Energy Information Administration said Wednesday.
The agency said crude inventories increased to 358.3 million barrels during the week with supplies remaining above the upper limit of the average range for this time of year.
Gasoline inventories rose by 1.6 million barrels in the week. At 226.1 million barrels, stockpiles of gasoline are also above the upper limit of the average range.
Supplies of distillate fuels, which include heating oil, rose by 400,000 barrels to 174.9 million barrels.
Inventories of finished gasoline and stocks of gasoline blending components rose during the week, the energy agency reported.
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Wed, 22/09/2010 - 20:18 by harsheeb
New York -- Crude oil prices headed higher Wednesday morning in New York, breaking back above $75 per barrel as the U.S. dollar continued to weaken.
The dollar index dropped 1.16 percent Tuesday and was recently down 0.69 percent.
The dollar index, which measures the greenback against six major currencies, has been in decline since early June, when the index measured its high for the year at 88.575. On Tuesday, the index, which found a brief respite in late August, fell to 79.719.
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Wed, 22/09/2010 - 03:50 by harsheeb
New York -- Crude oil prices dropped under $75 per barrel Tuesday in New York with the dollar index down 1.16 percent.
Crude oil has held steady for most of September, but tentatively followed a monthlong rebound in stocks. Early in the month, crude oil prices hovered near $75 per barrel. On Tuesday, prices dropped $1.34 to $74.85 per barrel, after the U.S. Federal Reserve said would not increase its securities purchasing program, which would have kept downward pressure on long-term interest rates.
Heating oil prices lost 0.0285 to $2.1109 per gallon. Reformulated gasoline blendstock prices shed 0.0221 cents to $1.9275 per gallon.
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Tue, 21/09/2010 - 23:33 by harsheeb
Ottawa -- Statistics Canada said consumer prices on an annual basis rose 1.7 percent in August, a slight decline from the previous month.
The reporting agency said energy prices provided most of the uptick with prices in the sector up 5 percent from a year ago. Without energy figured in, the Consumer Price Index rose 1.4 percent on an annual basis in August.
Inflation has settled from July, when the annual increase was at 1.8 percent and energy prices alone were up 7.9 percent.
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Tue, 21/09/2010 - 21:17 by harsheeb
New York -- Crude oil prices climbed over $76 per barrel overnight in New York with the dollar index down 0.38 percent.
Crude oil has held steady for most of September, but tentatively followed a month-long rebound in stocks. Early in the month, crude oil prices hovered near $75 per barrel. On Tuesday morning, prices reached $76.29 per barrel, trading in a range from $75.65 to $76.37.
Heating oil prices added 0.0244 overnight to $2.1638 per gallon. Reformulated gasoline blendstock prices gained 0.016 cents to $1.9656 per gallon.
Henry Hub natural gas prices for October delivery gained 0.069 cents to $3.891 per million British thermal units.
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Tue, 21/09/2010 - 07:53 by harsheeb
New York-- Crude oil prices rose in New York Monday, climbing above $76 per barrel despite fading concerns over supplies that have lately set the tempo for trading.
Enbridge Energy Partners said the 670,000 barrels-per-day Canada-U.S. pipeline feeding the Midwest and Northeast resumed service Friday after being shut down Sept. 9 due to a leak at an industrial complex in Romeoville, Ill.
In the South China Sea, concern was focused on Typhoon Fanapi. Platforms in the China Sea are critical to the region, where a disruption in supply could mean an increased demand on other sources.
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Mon, 20/09/2010 - 21:24 by harsheeb
New York -- Crude oil prices held steady in New York during the weekend, staying close to $75 per barrel with supply issues setting the tempo for trading.
Enbridge Energy Partners said the 670,000 barrels-per-day Canada-U.S. pipeline feeding the Midwest and Northeast resumed service Friday after being shut down Sept. 9 due to a leak at an industrial complex in Romeoville, Ill.
In the South China Sea, concern was focused on Typhoon Fanapi. Platforms in the China Sea are critical to the region, where a disruption in supply could mean an increased demand on other sources.
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Sat, 18/09/2010 - 07:46 by harsheeb
Washington-- A U.S. Department of Energy lab and a U.S. Air Force medical wing are joining forces to develop better tests for illicit drug use and abuse, officials say.
Researchers at the Pacific Northwest National Laboratory and the Air Force's 59th Medical Wing say they're not only looking for a better indicator of current or past use, but they'd like to be able to identify people prone to abusing drugs in the first place, a PNNL release said Friday.
Funded by the Department of Defense, the two-year study will lay the foundation for future work to determine who might be susceptible to hydrocodone, the release said.
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Thu, 16/09/2010 - 23:18 by harsheeb
New York -- Crude oil prices peaked near $76 on the New York Mercantile Exchange before settling back Thursday morning as equity markets fell in Asia and Europe.
October delivery light, sweet crude dropped 79 cents to $75.24 per barrel with markets down in Japan, China and Hong Kong. In midday trading, markets were lower in Germany, France and Britain.
Prices also settled down on word from Enbridge Energy Partners that a major pipeline would be repaired by the end of the week, The Wall Street Journal reported.
Heating oil prices on Thursday dropped 0.0042 cents to $2.1284 per gallon.
Reformulated gasoline prices lost 0.10174 cents to $1.9451 per gallon. Natural gas prices rose 0.02 cents to $4.015 per million British thermal units.
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Thu, 16/09/2010 - 12:47 by Harvey Jones
Some people still maintain that it was oil at $147 a barrel that sparked the credit crunch. When U.S. motorists saw how much they were paying for a gallon of gasoline, they stopped spending, the argument goes. The rest is history.
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Wed, 15/09/2010 - 07:48 by harsheeb
New York -- Crude oil prices in New York slipped below $77 per barrel Tuesday as stocks were mixed in Asia, Europe and on Wall Street.
On the 50th anniversary of the Organization of Petroleum Exporting Countries, prices are right where OPEC has stated publicly is a reasonable price for now -- between $70 and $80 per barrel.
Ahead of planned celebrations, OPEC President Abdulla Al Badri said Monday the 12-member, oil-producing cartel was seeking stability in pricing.
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