Tuesday, December 25, 2007

Oil settles at USD 94.13

Crude oil prices rose on Monday (December 24), after predictions of a drop in crude inventories raised new supply concerns.

Light, sweet crude for February delivery rose 82 cents to settle at USD 94.13 a barrel on the New York Mercantile Exchange (NYMEX) after falling as low as USD 92.50 earlier.

January gasoline futures rose 0.45 cent to settle at USD 2.384 a gallon.

The retail gas prices fell 0.2 cents, overnight to USD 2.974 a gallon.

In London, February Brent crude rose 24 cents to settle at USD 92.70 a barrel on the ICE Futures exchange.

January heating oil futures fell 1.44 cents to settle at USD 2.5947 a gallon on the NYMEX.

January natural gas futures dropped 16.5 cents to settle at USD 7.025 per 1,000 cubic feet on the NYMEX.

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