Petroleum
As thermostats rose across most of the United States, crude, products, and natural gas futures on the New York Mercantile Exchange (Nymex) dropped across the board. The National Weather Service's five-day forecast predicted normal to well-above-normal temperatures for most of the country, leading to a decline in prices
Petroleum
Crude oil prices declined on Friday, after initially breaking through $18/bbl on bullish inventory reports, only to be pared down by weakening gasoline futures. Trading volume was the highest since early December, with about 125,000 contracts changing hands. Industry and government surveys showed a steep 8 million bbl
Petroleum
U.S. crude oil and natural gas prices are expected to be volatile in the early part of this year, with prices likely moving lower before rebounding to sharply higher levels by the second half of the year, according to Smith Barney's technical analyst Richard Lorusso. Lorusso predicts
Petroleum
The New York Mercantile Exchange (Nymex) saw a mixed trading session on Thursday, as crude oil futures prices ended an eight-day streak of consecutive gains. On the other hand, January gasoline and heating oil futures surged higher after the American Petroleum Institute (API) released bullish inventory reports on Wednesday evening.
Petroleum
Crystal Oil Company, an American energy company listed on the American Stock Exchange (AMEX), has completed the sale of substantially all its U.S. oil and gas properties to Apache Corp. for approximately $97 million in cash. This deal marks a significant milestone for Crystal Oil, which will now have
Petroleum
Crude petroleum and refined petroleum product prices on the New York Mercantile Exchange saw significant increases on December 28, 1994, as new regulations took effect, reducing supplies compared to the previous year. Analysts attributed the price hike to technical fund purchases, which have been driving the market due to the
Petroleum
The Canadian government has made a decision to extend its ethanol subsidies to 2005, aiming to boost ethanol consumption to 1% of total Canadian consumption. This move includes extending the tax exemption on ethanol-blended gasoline for another six years, from 1999 to 2005, with a $50 million government-guaranteed line of
Petroleum
The American Petroleum Institute (API) reported a decline in crude oil and gasoline stocks, while the Energy Information Administration (EIA) provided a less-drastic drop in crude stocks and an increase in gasoline stocks. According to weekly petroleum statistics, crude oil stocks fell by 1.9 million barrels to 336.3
Petroleum
Oil prices took a significant hit on Thursday, as crude and product futures on the New York Mercantile Exchange (Nymex) continued their downward trend. The January futures contract for light, sweet crude tumbled 26 cents to settle at $16.73 per barrel, while February crude dropped 23 cents to $16.
Petroleum
Following bullish inventory reports, gasoline and heating oil futures rebounded from recent plunges, pulling crude oil prices higher. The American Petroleum Institute's weekly survey revealed a significant 5.5 million bbl drop in product inventories, exceeding traders' expectations. The market responded positively, with gasoline futures rising 1.
Petroleum
Oil prices corrected their excesses on Tuesday, with increases in gasoline, heating oil, and crude, while natural gas prices dropped. The January futures contract for gasoline on the New York Mercantile Exchange (Nymex) rose 1.10 cents to 50.46 cents/gallon, after plummeting 3.69 cents/gallon on Friday
Petroleum
Crude oil futures prices for January 1995 deliveries dropped to under $17/bbl on December 2, 1994, due to decreased demand for crude feedstock and funds liquidating their positions at two automatic sell-off points. The drop in crude prices also led to a decline in reformulated gasoline and heating oil
