Wed, 13/10/2010 - 22:12 by harsheeb
New York-- Crude oil prices gained sharply Wednesday on the New York Mercantile Exchange, closing in on $83 per barrel with equities pointing to higher demand.
Stock markets rose in Asia and Europe. The Sensex index in India rose 2.4 percent ant the Hang Seng index in Hong Kong gained 1.45 percent.
In midday trading in Europe, the FTSE 100 index in Britain added 1.43 percent while the DAX 30 in Germany gained 1.78 percent. The CAC 40 in France rose 1.76 percent.
Traders are also attentive to a an Organization of Petroleum Exporting Countries summit that convenes in Vienna Thursday.
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Tue, 12/10/2010 - 21:35 by harsheeb
New York -- Crude oil prices dropped under $82 per barrel on the New York Mercantile Exchange overnight, as traders test a new price plateau.
Prior to an Organization of Petroleum Exporting Countries summit scheduled for Thursday in Vienna, November delivery light, sweet crude lost 57 cents to $81.64 with the dollar gaining strength. On Monday, the dollar index rose 0.24 percent.
OPEC in a monthly report said global demand for oil in 2010 was 100,000 barrels per day higher than previously thought -- the total estimate revised to 1.1 million barrels a day, MarketWatch reported.
Heating oil prices overnight fell 1.57 cents to $2.2633 per gallon.
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Tue, 12/10/2010 - 06:46 by harsheeb
New York -- Crude oil prices settled back Monday morning, dropping to just under $82 per barrel in New York as the dollar index rose 0.24 percent.
November delivery light, sweet crude lost 68 cents to $81.98 per barrel on the New York Mercantile Exchange. Heating oil prices lost 0.36 cents to $2.2783 per gallon. Reformulated gasoline prices added 0.35 cents to $2.1547 per gallon. Henry Hub natural gas prices lost 3.6 cents to $3.615 per million British thermal units.
At the pump, the national average price of unleaded gasoline rose to $2.807 per gallon Monday from Sunday's $2.802, AAA said.
Copyright 2010 United Press International
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Mon, 11/10/2010 - 22:06 by harsheeb
New York -- Crude oil prices settled back Monday morning but held above $82 per barrel in New York as the dollar index rose 0.14 percent.
November delivery light, sweet crude lost 44 cents in midmorning trading to $82.95 per barrel on the New York Mercantile Exchange. Heating oil prices lost 0.91 cents to $2.2728 per gallon. Reformlulated gasoline prices added 0.11 cents to $2.1523 per gallon. Henry Hub natural gas prices lost 1.2 cents to $3.639 per million British thermal units.
At the pump, the national average price of unleaded gasoline rose to $2.807 per gallon Monday from Sunday's $2.802, AAA said.
Copyright 2010 United Press International
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Sun, 10/10/2010 - 05:11 by harsheeb
Dallas -- The declining price of natural gas undermined the value of Texas utility firm Energy Future Holdings by $4 billion in the third quarter, the company said.
In 2009, the value of Energy Future Holdings dropped by $9 billion, The Dallas Morning News reported Saturday. Again, in the third quarter, the declining price of natural gas has wiped away billions of the company's net worth.
"The price of natural gas has declined and it's been a sustained decline.
Therefore, we felt the value of the goodwill on our books was not representative," of the firm's true value, Director of Investor Relations Rima Hyder said.
The value of the firm declined despite hedges the company makes against fluctuations in the commodity market.
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Sat, 09/10/2010 - 07:55 by harsheeb
Washington -- Crude oil prices rose Friday on the New York Mercantile Exchange, as the dollar index dropped 0.23 percent.
Crude oil prices are showing signs of finding a new plateau, hovering above $80 for most of the week.
Crude oil prices had sat in a $72 to $76 holding pattern for several months. The pattern was broken this week with prices rising due to a weaker dollar and a stronger yen, prompted by the Bank of Japan, which began selling yen for the first time in six years to allow the currency to weaken.
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Fri, 08/10/2010 - 20:56 by harsheeb
Washington -- Crude oil prices rose modestly early Friday on the New York Mercantile Exchange but remained under under $82 per barrel, perhaps defining a new plateau.
Crude oil prices had sat in a $72 to $76 holding pattern for several months. The pattern was broken this week with prices rising due to a weaker dollar and a stronger yen, prompted by the Bank of Japan, which eased its lending policy on Monday.
The price of light, sweet crude for November delivery peaked at $83.77 per barrel Thursday, before easing back. On Friday morning, crude oil prices in New York settled at 81.62 per barrel.
Heating oil prices added 0.04 cents to $2.2522 per gallon. Reformulated gasoline prices gained 0.7 cents overnight to $2.125 per gallon.
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Thu, 07/10/2010 - 21:22 by harsheeb
New York -- Crude oil prices rose overnight on the New York Mercantile Exchange, climbing toward $84 per barrel, after two European banks left monetary policy unchanged.
The Bank of England kept its lending rate at 0.5 percent. The European Central Bank left lending at 1 percent. Currency rates, which shifted when the Bank of Japan lowered its overnight lending rate to zero to 0.1 percent this week, have given commodity prices a boost, as the dollar continues to weaken.
The dollar index, at nearly 87 in June, fell to 77.18 Thursday, below Wednesday's 77.44.
The index measures the dollar against six major currencies with a pro-rated formula.
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Thu, 07/10/2010 - 10:37 by Rakhi
New York -- Crude oil prices topped $83 per barrel Wednesday on the New York Mercantile Exchange.
Light, sweet November delivery crude prices returned to Tuesday's overnight high, reaching $83.33 per barrel, propelled by an upswing in stock markets in Asia and Europe. Stocks surged on Wall Street Tuesday, but hit a snag Wednesday, closing mixed after Automatic Data Processing Inc. said 39,000 private sector jobs were lost in August to September.
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Wed, 06/10/2010 - 21:33 by harsheeb
New York-- Crude oil prices topped $83 per barrel overnight, before settling down on the New York Mercantile Exchange to a midmorning price of $82.76.
Light, sweet November delivery crude hit an overnight high of $83.33 per barrel, propelled by an upswing in stock markets in Asia and Europe. Stocks also surged on Wall Street on Tuesday, although the rally in equities slowed Wednesday morning.
Crude oil prices also found support from a weaker dollar, which dropped against the yen and the euro in early trading.
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Tue, 05/10/2010 - 08:04 by harsheeb
New York -- Crude oil prices slipped to nearly $81 per barrel Monday on the New York Mercantile Exchange as stocks struggled to make headway on Wall Street.
Prices felt some downward pressure from a declining euro, which was shaken last week by troubles at Irish banks. The Irish government said it would require up to $46 billion in taxpayer funds to shore up the troubled Anglo Irish Bank.
Crude oil prices Monday morning shed 82 cents through the day to reach $81.38 per barrel. Heating oil prices lost 0.14 cents to $2.2833 per gallon.
Reformulated gasoline prices lost 0.47 cents to $2.0886 per gallon.
Henry Hub natural gas prices added 1.1 cents to reach $3.738 per million British thermal units.
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Tue, 05/10/2010 - 05:05 by harsheeb
Boston -- A National Grid wind power project proposed in Massachusetts would raise electric bills up to 2.3 percent, an attorney from the electric company said.
National Grid attorney Ron Gerwatowski said rates for Massachusetts commercial and industrial customers would rise 1.9 percent to 2.3 percent with the 468 megawatt capacity Cape Wind project proposed for an Atlantic Ocean address off the island of Nantucket.
"There's an environmental policy being advanced on behalf of all our customers," a Boston Herald report Monday quoted Gerwatowski as saying.
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