Wed, 04/08/2010 - 22:10 by Prince damin
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.
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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.
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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.
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Sat, 03/07/2010 - 00:08 by Pankaj Damin
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.
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Thu, 24/06/2010 - 10:31 by Pankaj Damin
New York -- Crude oil prices dropped to nearly $76 per barrel on the New York Mercantile Exchange after a New Orleans judge lifted an offshore drilling moratorium.
U.S. District Judge Martin Feldman on Tuesday blocked a six-month White House ban on deepwater drilling, calling the order a "blanket, generic, indeed punitive, moratorium," The New York Times reported.
Interior Secretary Ken Salazar then vowed to issue a new order for the industry "that eliminates any doubt that a moratorium is needed, appropriate and within our authorities."
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Tue, 22/06/2010 - 09:48 by Pankaj Damin
New York -- Crude oil prices settled near $77 per barrel Monday on the New York Mercantile Exchange after an early jump prompted by China's currency move.
China said Saturday it would allow some flexibility in the renminbi.
The renminbi (or yuan) appreciated to the highest level against the dollar in 20 months after Saturday's announcement, which gives a boost to oil exporters to China.
July delivery crude oil prices reached $78.78 per barrel early Monday, but crude oil prices and a rally in equity markets both cooled as the day progressed.
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Tue, 25/05/2010 - 10:29 by Rakhi
New York -- June delivery crude oil prices held close to $70 per barrel through the weekend, but fell Monday with the euro undermining confidence in the economic recovery.
The euro traded at $1.2333 Monday, down from about $1.50 in November. The drop has helped push oil prices down about 20 percent off their peak for the year, above $86 per barrel.
On Monday, June delivery oil prices lost 44 cents from a prior settlement to $69.77 per barrel on the New York Mercantile Exchange. Heating oil prices added 0.0005 cents to $1.9141 per gallon. Reformulated gasoline blendstock prices shed 0.0071 cents to $1.95 per gallon. Henry Hub natural gas prices gained 0.029 cents to $4.046 per million British thermal units.
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Sat, 24/10/2009 - 04:52 by surajdogra
New York -- Crude oil prices dropped under $80 per barrel on the New York Mercantile Exchange Friday after reaching a peak for the year this week.
Crude oil prices closed at $81.19 per barrel Thursday after reaching higher in mid-session. On Friday, prices settled further, dropping 87 cents to $79.63 per barrel.
Heating oil prices also dropped, losing 0.0141 cents to $2.0615 per gallon.
Reformulated gasoline prices shed 0.0088 cents to $2.035 per gallon. Natural gas prices lost 0.16 cents to $4.787 per million British thermal unit.
At the pump, the national average price of unleaded gasoline was $2.636 per gallon Friday, up from Thursday's $2.616, AAA said.
Copyright 2009 by United Press International.
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Thu, 22/10/2009 - 03:09 by surajdogra
New York -- Crude oil prices surged to $81 per barrel on the New York Mercantile Exchange Wednesday, sustaining a rally that began a week ago.
Light, sweet crude prices added $2.34 cents to $81.01 per barrel. Heating oil prices rose 0.0538 cents to $2.0928 per gallon. Reformulated gasoline prices rose 0.0308 cents to $2.041 per gallon. Natural gas prices gave up 0.074 cents to $5.096 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.596 per gallon Wednesday, up from Tuesday's $2.577, AAA said.
Copyright 2009 by United Press International.
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Wed, 21/10/2009 - 04:17 by surajdogra
New York -- Crude oil prices on the New York Mercantile Exchange dropped below $79 per barrel Tuesday, although it is too early to declare a new holding pattern.
The price of light, sweet crude bolted out of a holding pattern between $65 and $72 early in October, but price hikes put on a burst of speed last week, propped up by renewed confidence in equity markets.
The price of crude oil fell 45 cents Tuesday to $78.67 per barrel. Heating oil prices lost 0.0083 cents to $2.039 per gallon. Reformulated gasoline prices shed 0.0175 cents to $1.9702 per gallon. Natural gas prices reached $5.17, up 0.009 cents.
At the pump, the national average price of unleaded gasoline rose Tuesday to $2.577 per gallon, up from Monday's $2.564, AAA said.
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Tue, 13/10/2009 - 22:39 by surajdogra
New York -- Crude oil prices closed in on $74 per barrel on the New York Mercantile Exchange as oil exporters said demand would increase this year and next.
In the monthly status report for October, the Organization of the Petroleum Exporting Countries said demand would jump by 200,000 barrels a day through the end of the year to 84.2 million barrels a day. OPEC forecast demand would climb in 2010 to 84.9 million barrels a day.
In New York, the price of light, sweet crude gained 69 cents to $73.96 per barrel.
Heating oil prices rose 0.0256 cents to $1.92 per gallon. Reformulated gasoline prices added 0.0225 cents to $1.8215 per gallon. Natural gas prices fell 0.236 cents to $4.644 per million British thermal units.
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Thu, 08/10/2009 - 00:52 by surajdogra
New York -- Gold surged to a record $1,045 per ounce on the New York Mercantile Exchange, prompted by a weak U.S. dollar and a run on the commodity as an inflation hedge.
The dollar, on a six-month slide, fell to near lows for the year against the euro and the yen Tuesday, the Washington Post reported.
The weak dollar "is headed for also-ran status and will continue to lose its value against many other currencies and assets," equity strategist Peter
Boockvar at Miller Tabak told the Post.
"The rest of the world wants the U.S. dollar to loose influence, but no one wants it to be abrupt," he said.
Cornell University economics professor Eswar Prasad said it would be "highly unlikely" the dollar would be replaced as the world's reserve currency soon.
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