Natural Gas Soars on Cold Weather; Oil Falls Slightly

NEW YORK (AP) -- The price of oil fell slightly Monday, the first decline in seven trading sessions.

Benchmark U.S. crude for January delivery slipped $0.31 to $97.34 a barrel on the New York Mercantile Exchange. Oil had gained $5.35 a barrel, or 5.8%, over the previous six trading days.

Meanwhile, natural gas rose above $4.20 for the first time since May 28, on the likelihood that homeowners turned up the heat to try to shake off the effects of two wintry storms that plowed across the country. Forecasts are for colder than normal temperatures in the Midwest this week.

Natural gas futures rose $0.12, or 2.9%, to $4.23 per $1,000 cubic feet.

U.S. drivers who braved the rough conditions in many areas paid an average of $3.26 a gallon for gasoline. That's down $0.09 from this time a year ago.

Brent crude, a benchmark for international oils, dropped $2.22 at $109.39 a barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex:

  • Wholesale gasoline rose lost $0.01 to $2.67 a gallon.
  • Heating oil lost $0.04 to $3.01 a gallon.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2758148, ~/Articles/ArticleHandler.aspx, 9/30/2014 2:36:33 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement