Crude Oil Price Per Barrel; Gas Oil Price Per Gallon; Natural Gas per BTUs; Energy Commodity Notes November 17th, 2010
Posted on | November 17, 2010 | No Comments
Oil price per barrel fell through mid-day trading today and gas price per gallon has been on the rise. This coincides with the nations preparations relative to increased travel time that always accompany the holiday season.
The relationship between the predictable travel behavior and the price of gas per gallon is one that often runs parallel with regards to positive or negative price directionality. Oil prices did fall today even with the American Petroleum Institute posting yesterday that crude inventories fell 7.7 million barrels last week. Positive news for the consumer right now is that the December contract for gasoline price per gallon is falling. It recently dropped 4 cents to $2.16 a gallon. As for the end of day close of the U.S. trading session for November 17th 2010, crude oil was down by 2.31% and settled at $80.44 a barrel. Heating oil was for December delivery was in the red by 2.47% and closed at $2.25 per gallon. Natural gas was in the green by 5.55% and finished the day at $4.03 per million BTUs. Unleaded gas was in the green as well and finished up by .10% at $2.16 per gallon. Also overall, the CPI rose .2% in October due to increases seen in the energy sector.
Author: Stephen Johnson