Related News
Oil finishes virtually unchanged from Friday
Source: Agencies |
October 16, 2012, Tuesday
|
Online Edition
Online Edition
A late-day surge left oil prices virtually unchanged yesterday, erasing losses of more than two percent.
Earlier in the day, the focus was on weaker oil demand. Traders seemed to warm slowly to some positive US economic news as the day went along. Higher US stock prices may have also influenced the buying of oil.
The Commerce Department said yesterday that retail sales rose 1.1 percent last month. That follows a 1.2 percent increase in August. They were the largest gains in two years, driven by auto sales and the release of the iPhone5.
The S&P 500 and the Dow Jones industrial average each rose about 0.7 percent.
Benchmark crude finished down a penny at US$91.85 a barrel on the New York Mercantile Exchange. In London, Brent crude, used to price international varieties of oil, gained 79 cents to US$114.40 a barrel.
In other energy futures trading on the New York Mercantile Exchange:
- Natural gas fell 12.5 cents to end at US$3.486 per 1,000 cubic feet.
- Heating oil fell 1.5 cents to US$3.209 a gallon.
- Wholesale gasoline futures gave up 4.25 cents to US$2.85 a gallon.
Earlier in the day, the focus was on weaker oil demand. Traders seemed to warm slowly to some positive US economic news as the day went along. Higher US stock prices may have also influenced the buying of oil.
The Commerce Department said yesterday that retail sales rose 1.1 percent last month. That follows a 1.2 percent increase in August. They were the largest gains in two years, driven by auto sales and the release of the iPhone5.
The S&P 500 and the Dow Jones industrial average each rose about 0.7 percent.
Benchmark crude finished down a penny at US$91.85 a barrel on the New York Mercantile Exchange. In London, Brent crude, used to price international varieties of oil, gained 79 cents to US$114.40 a barrel.
In other energy futures trading on the New York Mercantile Exchange:
- Natural gas fell 12.5 cents to end at US$3.486 per 1,000 cubic feet.
- Heating oil fell 1.5 cents to US$3.209 a gallon.
- Wholesale gasoline futures gave up 4.25 cents to US$2.85 a gallon.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
