A gas flame burns behind oil field workers, May 30, 2011, in the desert oil fields of Sakhir, Bahrain. THE CANADIAN PRESS/AP, Hasan Jamali
NEW YORK, N.Y. - The price of oil was holding steady around $99 a barrel Monday, after getting a boost last week from the Federal Reserve's latest plan to spur the U.S. economy.
Benchmark crude slipped 5 cents to $98.95 in afternoon trading on the New York Mercantile Exchange. Oil rose 2.7 per cent last week.
The Fed's plan, which includes keeping interest rates at extraordinarily low rates into 2015, gives investors the incentive to put their money into riskier assets like commodities. But the higher oil rises, the more analysts believe consumers will pull back on spending.
Oil touched a high above $100 a barrel last week partly due to concerns that unrest in the Middle East over an anti-Islam film could trigger supply disruptions.
While higher oil prices tend to drive up U.S. prices at the pump, the end of the summer driving season means less demand for gasoline.
Brent crude, which is used to price international varieties of oil, fell 54 cents to $116.12 per barrel on the ICE Futures Exchange London.
Other energy futures lost ground on the New York Mercantile Exchange:
— Wholesale gasoline fell 2 cents to $2.99 a gallon.
— Heating oil fell 3 cents to $3.21 a gallon.
— Natural gas lost 7 cents to $2.87 per 1,000 cubic feet.
___
(TSX:ECA, TSX:IMO, TSX:SU, TSX:HSE, NYSE:BP, NYSE:COP, NYSE:XOM, NYSE:CVX, TSX:CNQ, TSX:TLM, TSX:COS.UN, TSX:CVE)
© The Canadian Press, 2012
17 Sep, 2012
-
Source: http://www.globalnews.ca/Money/oil+holds+near+99+a+barrel+maintaining+gains+from+feds+moves+to+boost+economy/6442716280/story.html
--
Manage subscription | Powered by rssforward.com
Anda sedang membaca artikel tentang
Oil holds near $99 a barrel, maintaining gains from Fed's moves to boost economy
Dengan url
http://essentialforbody.blogspot.com/2012/09/oil-holds-near-99-barrel-maintaining.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Oil holds near $99 a barrel, maintaining gains from Fed's moves to boost economy
namun jangan lupa untuk meletakkan link
Oil holds near $99 a barrel, maintaining gains from Fed's moves to boost economy
sebagai sumbernya
0 komentar:
Posting Komentar