Money Matters - Simplified

New York Mercantile Exchange

Crude oil prices climb Thursday morning

New York -- Crude oil prices climbed overnight, topping $73 per barrel on the New York Mercantile Exchange Thursday despite a rise in U.S. stockpiles.

The Energy Information Administration said Wednesday that stockpiles of crude oil rose by more than 4 million in the week ending Aug. 20.

Traders, however, are placing their bets by following the numbers on equity boards.

On Wednesday, U.S. stock markets posted marginal gains after an early downturn. Crude oil prices followed along, as they did Thursday morning with stock markets mostly higher in Asia and Europe.

Crude oil prices hold under $76 a barrel

New York -- Crude oil prices remained below the $76 mark Tuesday on the New York Mercantile Exchange.

Early morning trading indicated September delivery light, sweet crude oil was trading up 0.61 cents, at $75.85.

Reformulated blendstock gasoline made a 0.0272-cent gain to $1.9515 a gallon.
Henry Hub natural gas was trading at $4.234 per million British thermal units, up 0.006.

Home heating oil also began the session up, trading at $2.0111 a gallon, for a 0.0223-cent gain.

At the pump, the price of a gallon of regular unleaded gasoline was $2.742, down from Monday's $2.75 average, AAA's Daily Fuel Gauge Report indicated.

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

Crude oil ends trading day below $76

New York -- Crude oil prices settled at a five-week low Monday on the New York Mercantile Exchange, losing 15 cents to $75.25 a barrel.

Traders said the settle price, a five-week low, could have resulted from concerns about the global economy blunting efforts to post gains.

Gasoline futures closed at an 11-week low, down 2 cents to $1.92 a gallon -- the commodity's lowest price since May 25, MarketWatch.com reported.

"The summer is winding down and we still have plenty of inventories," Tom Bentz, commodities analyst with BNP Paribas in New York, told the business publication.

Natural gas also saw red figures Monday, losing a dime to close at $4.23 per million British thermal units.

Crude trading starts below $76

New York -- Trading for light, sweet crude oil began below the $76 mark Monday on the New York Mercantile Exchange.

Early morning trading indicated the commodity was trading up 0.37 cents, at $75.56.

Gasoline made a 0.0070-cent gain to $1.9466 a gallon.

Henry Hub natural gas began the week trading at $4.339 per million British thermal units, up 0.011.

Home heating oil also began the session up, trading at $2 a gallon, for a 0.0044-cent gain.

At the pump, the price of a gallon of regular unleaded gasoline was $2.750, down from Friday's $4.755 average, AAA's Daily Fuel Gauge Report indicated.

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

Crude oil prices hold under $76

New York -- Crude oil prices held below $76 per barrel Friday on the New York Mercantile Exchange with prices down nearly 7 percent from the start of the week.

The U.S. Federal Reserve's estimate of the economic recovery as slowing down knocked crude oil prices from a recent perch near $81.50 per barrel. Traders are also concerned demand in China may weaken, although in Vienna Friday the Organization of Petroleum Exporting Countries said world demand would grow 1.2 percent in 2010, an increase of 100,000 barrels per day from a previous estimate.

The cartel also said "other factors such as government policies could impact the growth in demand," an acknowledgment that dropping rates of stimulus spending could undermine their own prediction.

Crude oil prices climb above $81

New York -- Crude oil for September delivery climbed slightly through the weekend, opening just above $81 per barrel Monday on the New York Mercantile Exchange.

Prices rose with the dollar index up 0.2 percent and stocks mostly higher in Asia and Europe.

Crude oil prices climbed 41 cents to $81.11 in morning trading. New York Harbor No. 2 heating oil for September gained 0.0123 cents to $2.1595 per gallon.

Reformulated gasoline blendstock rose 0.0161 cents to $2.1288 per gallon. Henry Hub natural gas climbed 0.021 cents to $4.488 per million British thermal units.

At the pump, the national average price for unleaded gasoline shifted lower, dropping to $2.774 per gallon from Sunday's $2.776, AAA said.

Crude oil holds above $82

New York -- Crude oil prices held above $82 per barrel Wednesday on the New York Mercantile Exchange, establishing a new plateau despite sluggish spending.

The Commerce Department said Tuesday that consumer spending and incomes were virtually flat in June. Stock markets slumped slightly, but crude oil prices headed higher, breaking the $80 barrier for the first time in three months.

Overnight, the price of light, sweet crude oil for September delivery peaked at $82.85 before dropping back to $82.52 per barrel.

Prices were supported by a drop in the dollar index, which fell Monday and Tuesday.

Crude oil prices top $76 per barrel

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.

Crude oil prices shoot up close to $75

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.

Crude oil prices hold under $73

New York -- Crude oil prices held under $73 per barrel on the New York Mercantile Exchange Friday.

With stock markets showing gains in Asia and Europ, oil prices rose off an overnight low of $71.70 per barrel and settled at $72.76 per barrel.

August delivery heating was oil down 0.0013 cents to $1.9372 per gallon.

Reformulated gasoline blendstock prices dropped 0.1114 cents to $1.9862 per gallon. Henry Hub natural gas prices for August lost 0.078 cents to $4.776 per million British thermal units.

At the pump, the national average price for unleaded regular gasoline dropped to $2.75 per gallon from Thursday's $2.754, AAA said.