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Oil slightly higher after mixed economic reports
Source: Agencies |
January 29, 2013, Tuesday
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Online Edition
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THE price of oil rose yesterday after a strong durable goods report in the US.
Demand for long-lasting manufactured goods rose sharply in December with gains in volatile aircraft orders, the Commerce Department said. But the number of pending home sales fell last month after hitting a 2 1/2 year high in November.
Benchmark oil rose 56 cents to finish at US$96.44 a barrel on the New York Mercantile Exchange.
It's a big week for US economic indicators. In addition to yesterday's data, the government will release reports on weekly jobless claims, unemployment and fourth-quarter growth. And the Federal Reserve's policy committee holds a two-day meeting that concludes tomorrow.
Brent crude, used to price international varieties of oil, rose 20 cents to end at US$113.48 a barrel on the ICE Futures exchange in London.
In other energy futures trading on Nymex:
- Wholesale gasoline rose 6 cents to finish at US$2.94 per gallon.
- Natural gas fell 16 cents to end at US$3.29 per 1,000 cubic feet.
- Heating oil rose about half a cent to finish at US$3.06 a gallon.
Demand for long-lasting manufactured goods rose sharply in December with gains in volatile aircraft orders, the Commerce Department said. But the number of pending home sales fell last month after hitting a 2 1/2 year high in November.
Benchmark oil rose 56 cents to finish at US$96.44 a barrel on the New York Mercantile Exchange.
It's a big week for US economic indicators. In addition to yesterday's data, the government will release reports on weekly jobless claims, unemployment and fourth-quarter growth. And the Federal Reserve's policy committee holds a two-day meeting that concludes tomorrow.
Brent crude, used to price international varieties of oil, rose 20 cents to end at US$113.48 a barrel on the ICE Futures exchange in London.
In other energy futures trading on Nymex:
- Wholesale gasoline rose 6 cents to finish at US$2.94 per gallon.
- Natural gas fell 16 cents to end at US$3.29 per 1,000 cubic feet.
- Heating oil rose about half a cent to finish at US$3.06 a gallon.
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