Money Matters - Simplified

Energy

Crude oil headed toward $88 per barrel

New York -- Crude oil prices headed toward $88 per barrel on the New York Mercantile Exchange Thursday as the European Central Bank kept lending rates unchanged.

The ECB left its bank-to-bank lending rate at 1 percent, as investors kept an eye on the ongoing debt crisis in Europe.

In New York, January delivery light, sweet crude prices added $1.12 cents to $87.87. Heating oil prices gained 4.04 cents to $2.446 per gallon. Reformulated gasoline blendstock prices picked up 4.72 cents to $2.3476 per gallon. Henry Hub natural gas prices gained 8.6 cents to $4.355 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose sharply, adding 1.5 cents from Wednesday's $2.864 per gallon to reach $2.879, AAA said.

Crude oil prices jump on weaker dollar

NewYork -- Crude oil prices followed equities higher Wednesday on the New York Mercantile Exchange, closing in on $87 per barrel.

After several jittery days, equities rose in Asia, Europe and the United States. Oil also found support from a weaker dollar. The dollar index fell 0.64 percent Wednesday.

January delivery light, sweet crude oil added $2.60 to $86.71 per barrel.

Heating oil prices gained 7.76 cents to $2.402 per gallon. Reformulated gasoline blendstock prices rose 11.52 cents to $2.302 per gallon. Henry Hub natural gas prices added 1.22 cents to $4.302 per million British thermal units.

Crude oil prices head higher

NewYork -- Crude oil prices followed equities higher Wednesday on the New York Mercantile Exchange, closing in on $86 per barrel.

After several jittery days, equities rose in Asia and Europe. Oil also found support from a shifting balance between the U.S. dollar and the euro, which traded at $1.3117 from Tuesday's $1.2981.

January delivery light, sweet crude oil added $1.64 to $85.75 per barrel.

Heating oil prices gained 4.8 cents to $2.3724 per gallon. Reformulated gasoline blendstock prices rose 6.74 cents to $2.2542 per gallon. Henry Hub natural gas prices rose 1.3 cents to $4.193 per million British thermal units.

Crude oil prices head higher

NewYork -- Crude oil prices followed equities higher Wednesday on the New York Mercantile Exchange, closing in on $86 per barrel.

After several jittery days, equities rose in Asia and Europe. Oil also found support from a shifting balance between the U.S. dollar and the euro, which traded at $1.3117 from Tuesday's $1.2981.

January delivery light, sweet crude oil added $1.64 to $85.75 per barrel.

Heating oil prices gained 4.8 cents to $2.3724 per gallon. Reformulated gasoline blendstock prices rose 6.74 cents to $2.2542 per gallon. Henry Hub natural gas prices rose 1.3 cents to $4.193 per million British thermal units.

Crude oil prices slide under $85

New York-- Crude oil prices lost ground Tuesday on the New York Mercantile Exchange, dropping under $85 per barrel despite a stronger U.S. dollar.

Oil traders are balancing out concerns of diminished expectations for growth in Europe given the ongoing debt crisis that resulted in a financial bailout for Ireland this week and indications that China is considering policy adjustments to slow inflation.

The European Commission said Monday that growth in Europe was expected to be "muted" through 2012 with the gross domestic product gaining 1.75 percent in 2011 and 2 percent in 2012.

Crude oil prices hold under $84

New York -- Crude oil prices held steady under $84 per barrel Monday on the New York Mercantile Exchange.

January delivery crude oil in New York added only 7 cents from Friday to $83.77. Heating oil prices gained 0.69 cent to $2.3399 per gallon.

Reformulated blendstock gasoline added 1.48 cent to $2.1732 per gallon.

Henry Hub natural gas prices shed 1.2 cent to $4.387 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $2.857 per gallon from Sunday's $2.86, AAA said.

Copyright 2010 United Press International

BP sells Argentina oil venture to Bridas

New York -- British oil producer BP is selling its majority stake in Pan American Energy to Bridas for $7.1 billion in cash, the companies announced Sunday.

Pan American Energy is one of the largest energy companies in Argentina, and the sale will bolster the fund BP is using to pay off damages caused by the well blowout in the Gulf of Mexico earlier this year, The New York Times said.

The transaction did not include PAE's holdings in Bolivia.

Workouts shed pounds, add wattage

Portland -- The calories burned by exercisers are not going to waste at a new breed of "green gyms."

At the Green Microgym in Portland, Ore., the stationary bikes and elliptical machines recapture the energy patrons create while pedaling, convert it into electricity and channel it back into power outlets, Time magazine reports.

An average workout there generates 37.5 watt hours, which owner Adam Boesel says can power a phone for a week. The gym does not yet produce enough electricity to be carbon-neutral, but if all the equipment is being used at once, it can produce 10 times the amount needed to run the facility at any given moment.

Is SunPower a Buy?

 Analysts and investors have beaten down the solar sector down over the past few weeks as uncertainty about 2011 enters the market. So it’s time we look to see whether investors have gone too far, leaving us with a Black Friday sale. I've picked SunPower (Nasdaq: SPWRA) for today's price check because it's a solar leader and has been on my value radar for some time.

 

Crude oil prices slide Friday

New York -- Crude oil prices slid modestly through the Thanksgiving holiday in New York, falling to under $84 per barrel Friday.

Prices have taken their cue from stock markets in the past week. Stocks in Asia and Europe were down Friday. Oil prices followed suit.

January delivery light, sweet crude oil on the New York Mercantile Exchange gave up 39 cents to $83.47. Heating oil prices lost 1.1 cents to $2.3308 per gallon. Reformulated blendstock gasoline slid 0.62 cents to $2.1556 per gallon.

Henry Hub natural gas prices added 5.1 cents to $4.439 per million British thermal units.

At the pump, the national average price of unleaded gasoline dropped to $2.863 per gallon from Thursday's $2.865, AAA said.