Shares of BP (NYSE:BP), Marathon Oil (NYSE:MRO) and Shell (NYSE:RDS-A) ended the session up as oil prices gained the $100 a barrel mark for the first time this week.
Light sweet crude oil for July delivery was up $1.73 to settle at $101.32 a barrel and July Brent crude jumped $2.40 to settle at $114.93.
Also aiding oil prices was a Department of Energy report on Wednesday saying U.S. commercial crude inventories climbed 600,000 barrels in the week ended May 20 versus an expected 1.3 million barrel fall in crude stocks.
Gasoline inventories rose 3.8 million barrels last week versus an estimated 300,000 barrel jump.
Marathon closed Wednesday at $52.76, gaining $0.88, or 1.70 percent. Royal Dutch Shell closed at $69.01, up $0.33, or 0.48 percent. BP ended the day at $44.71, rising $0.34, or 0.77 percent.
Showing posts with label Oil Prices. Show all posts
Showing posts with label Oil Prices. Show all posts
Thursday, May 26, 2011
Monday, May 16, 2011
BP (BP) Shares Drop on Falling Oil Prices
BP (NYSE:BP) starting moving down last Wednesday in response to plunging oil prices, as oil inventories went up as consumer demand went down because of higher gas prices.
On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.
For the week, front-month crude climbed $2.47, or 2.5 percent.
ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.
The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.
NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.
For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.
NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.
Front-month heating oil for last week was up 9.65 cents.
BP closed Friday at $42.93, down $0.65, or 1.49 percent.
On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.
For the week, front-month crude climbed $2.47, or 2.5 percent.
ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.
The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.
NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.
For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.
NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.
Front-month heating oil for last week was up 9.65 cents.
BP closed Friday at $42.93, down $0.65, or 1.49 percent.
Thursday, May 5, 2011
Marathon (MRO) (DVN) (SHI) (HK) (OAS) Trade Down on Slowing Oil Demand
Oil companies and other industry-related companies Devon Energy (NYSE:DVN), SINOPEC Shangai Petrochemical (NYSE:SHI), Petrohawk Energy Corp. (NYSE:HK), Oasis Petroleum (NYSE:OAS) and Marathon Oil (NYSE:MRO) all closed down Wednesday as oil prices took a breather.
Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.
In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.
The U.S. dollar index shrunk 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.
Petrohawk Energy Corp. (HK) closed Wednesday at $24.04, falling $1.17, or 4.64 percent.
Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.
In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.
The U.S. dollar index shrunk 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.
Petrohawk Energy Corp. (HK) closed Wednesday at $24.04, falling $1.17, or 4.64 percent.
Tuesday, April 26, 2011
Vaalco (EGY) (SLB) (MRO) (COP) Close Down as Oil Prices Pull Back
Oil prices will probably keep climbing toward the highs of 2008 as growing demand isn't matched by additional supplies and the price jump has been slow to cut into consumption, as Range Resources (NYSE:RRC), Exco Resources Inc. (NYSE:XCO), Cameron International (NYSE:CAM) and Exxon Mobil (NYSE:XOM) closed down Monday, April 25.
The front-month Brent crude-oil futures contract, the London benchmark, pulled back from a 2½-year high of $127 a barrel on April 11, amid concerns that soaring prices are hurting demand. It settled at $123.66 a barrel on Monday, up 5.4 percent so far in April. The front-month June contract on the New York Mercantile Exchange pulled back one cent to $112.28, still up 5.2 percent this month and 23 percent in 2011.
Benchmark crude for June delivery dropped a penny to settle at $112.28 a barrel on the New York Mercantile Exchange. In London, Brent crude fell 33 cents to settle at $123.66 a barrel on the ICE Futures exchange.
In other Nymex trading, heating oil was down 1.73 cents to settle at $3.1989 a gallon and gasoline futures increased a little less than a penny to settle at $3.2785 a gallon. Natural gas dropped 2.3 cents to $4.389 per 1,000 cubic feet.
The front-month Brent crude-oil futures contract, the London benchmark, pulled back from a 2½-year high of $127 a barrel on April 11, amid concerns that soaring prices are hurting demand. It settled at $123.66 a barrel on Monday, up 5.4 percent so far in April. The front-month June contract on the New York Mercantile Exchange pulled back one cent to $112.28, still up 5.2 percent this month and 23 percent in 2011.
Benchmark crude for June delivery dropped a penny to settle at $112.28 a barrel on the New York Mercantile Exchange. In London, Brent crude fell 33 cents to settle at $123.66 a barrel on the ICE Futures exchange.
In other Nymex trading, heating oil was down 1.73 cents to settle at $3.1989 a gallon and gasoline futures increased a little less than a penny to settle at $3.2785 a gallon. Natural gas dropped 2.3 cents to $4.389 per 1,000 cubic feet.
Monday, April 25, 2011
Petrohawk (HK) (CXPO) (PETD) Close Mixed as Oil, Gas Continue to Rise
Crimson Exploration (Nasdaq:CXPO), PDC Energy (Nasdaq:PETD) and Petrohawk Energy (NYSE:HK) closed mixed Thursday as oil and gas prices continue to move up.
Crude oil prices climbed above $112 a barrel on the New York Mercantile Exchange Friday while the U.S. dollar was up after three days of faltering.
The dollar index jumped 0.14 percent to 74.10, making up a little lost ground.
May delivery crude oil rose 80 cents in New York to $112.25 a barrel. Home heating oil fell 1.85 cents to $3.2174 a gallon. Reformulated blendstock gasoline was up 2.93 cents to $3.2777 a gallon.
Henry Hub natural gas prices gained 11.3 cents to $4.423 per million British thermal units.
According to the AAA, the national average price of unleaded gasoline rose to $3.848 a gallon Friday from Thursday's $3.84.
Petrohawk Energy closed Thursday at $27.19, gaining $0.28, or 1.04 percent. PDC Energy ended the day at $40.28, down $0.41, or 1.01 percent. Crimson Exploration closed at $3.86, down $0.05, or 1.28 percent.
Crude oil prices climbed above $112 a barrel on the New York Mercantile Exchange Friday while the U.S. dollar was up after three days of faltering.
The dollar index jumped 0.14 percent to 74.10, making up a little lost ground.
May delivery crude oil rose 80 cents in New York to $112.25 a barrel. Home heating oil fell 1.85 cents to $3.2174 a gallon. Reformulated blendstock gasoline was up 2.93 cents to $3.2777 a gallon.
Henry Hub natural gas prices gained 11.3 cents to $4.423 per million British thermal units.
According to the AAA, the national average price of unleaded gasoline rose to $3.848 a gallon Friday from Thursday's $3.84.
Petrohawk Energy closed Thursday at $27.19, gaining $0.28, or 1.04 percent. PDC Energy ended the day at $40.28, down $0.41, or 1.01 percent. Crimson Exploration closed at $3.86, down $0.05, or 1.28 percent.
BP (BP) (HNR) (RRC) (WTI) Close Up as Oil, Gas Continue to Rise
Harvest Natural Resources (NYSE:HNR), Range Resources (NYSE:RRC), W&T Offshore (NYSE:WTI) and BP (NYSE:BP) closed up Thursday as oil and gas prices continue to move up.
Crude oil prices climbed above $112 a barrel on the New York Mercantile Exchange Friday while the U.S. dollar was up after three days of faltering.
The dollar index jumped 0.14 percent to 74.10, making up a little lost ground.
May delivery crude oil rose 80 cents in New York to $112.25 a barrel. Home heating oil fell 1.85 cents to $3.2174 a gallon. Reformulated blendstock gasoline was up 2.93 cents to $3.2777 a gallon.
Henry Hub natural gas prices gained 11.3 cents to $4.423 per million British thermal units.
According to the AAA, the national average price of unleaded gasoline rose to $3.848 a gallon Friday from Thursday's $3.84.
BP closed Thursday at $46.03, gaining $0.12, or 0.26 percent. W&T Offshore ended the day at $22.76, rising $0.01, or 0.04 percent. Range Resources closed at $54.21, jumping $1.26, or 2.38 percent. Harvest Natural Resources closed the session at $14.53, up $0.04, or 0.28 percent.
Crude oil prices climbed above $112 a barrel on the New York Mercantile Exchange Friday while the U.S. dollar was up after three days of faltering.
The dollar index jumped 0.14 percent to 74.10, making up a little lost ground.
May delivery crude oil rose 80 cents in New York to $112.25 a barrel. Home heating oil fell 1.85 cents to $3.2174 a gallon. Reformulated blendstock gasoline was up 2.93 cents to $3.2777 a gallon.
Henry Hub natural gas prices gained 11.3 cents to $4.423 per million British thermal units.
According to the AAA, the national average price of unleaded gasoline rose to $3.848 a gallon Friday from Thursday's $3.84.
BP closed Thursday at $46.03, gaining $0.12, or 0.26 percent. W&T Offshore ended the day at $22.76, rising $0.01, or 0.04 percent. Range Resources closed at $54.21, jumping $1.26, or 2.38 percent. Harvest Natural Resources closed the session at $14.53, up $0.04, or 0.28 percent.
Thursday, April 21, 2011
Exxon (XOM) (WTI) (RRC) (HNR) Close Up as Oil Prices Explode
Shares of Harvest Natural Resources (NYSE:HNR), Range Resources (NYSE:RRC), W&T Offshore (NYSE:WTI) and Exxon Mobil (NYSE:XOM) closed up on Wednesday as oil prices surged in response to news oil inventories unexpectedly dropped.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
Exxon Mobil closed Wednesday at $85.99, up $1.85, or 2.21 percent. W&T Offshore closed at $22.75, gaining $1.20, or 5.57 percent. Range Resources ended the trading session at $52.95, rising $0.38, or 0.72 percent. Harvest Natural Resources closed at $14.49, jumping $0.34, or 2.40 percent.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
Exxon Mobil closed Wednesday at $85.99, up $1.85, or 2.21 percent. W&T Offshore closed at $22.75, gaining $1.20, or 5.57 percent. Range Resources ended the trading session at $52.95, rising $0.38, or 0.72 percent. Harvest Natural Resources closed at $14.49, jumping $0.34, or 2.40 percent.
Chevron (CVX) (CRZO) (CHK) (COP) Close Up as Oil Prices Explode
Shares of Carrizo Oil & Gas (Nasdaq:CRZO) Chesapeake Energy Corp. (NYSE:CHK) Chevron (NYSE:CVX) ConocoPhillips (NYSE:COP) closed up on Wednesday as oil prices surged in response to news oil inventories unexpectedly dropped.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
ConocoPhillips closed Wednesday at $79.99, up $1.84, or 2.35 percent. Chevron closed at $107.81, gaining $2.41, or 2.29 percent. Petrohawk Chesapeake Energy Corp. ended the trading session at $32.21, rising $0.23, or 0.72 percent. Carrizo Oil & Gas closed at $37.08, jumping $0.82, or 2.26 percent.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
ConocoPhillips closed Wednesday at $79.99, up $1.84, or 2.35 percent. Chevron closed at $107.81, gaining $2.41, or 2.29 percent. Petrohawk Chesapeake Energy Corp. ended the trading session at $32.21, rising $0.23, or 0.72 percent. Carrizo Oil & Gas closed at $37.08, jumping $0.82, or 2.26 percent.
Goldcorp (GG) (UXG) (EGO) (AU) Close Up as Gold Breaks Record Again
US Gold (AMEX:UXG), Eldorado Gold (NYSE:EGO), Goldcorp (NYSE:GG) and AngloGold Ashanti (NYSE:AU) closed up on Wednesday as gold continues to break records on a daily basis recently.
Gold prices soared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery in at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
After breaking the $45 level, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record.
Gold and silver prices continue to soar on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index was plunging 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy, and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offering support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
AngloGold Ashanti closed Wednesday at $49.74, gaining $0.72, or 1.47 percent. Goldcorp closed at $54.93, up $0.26, or 0.48 percent. Eldorado Gold Corporation ended the trading session at $18.04, rising $0.07, or 0.39 percent. US Gold closed at $9.58, jumping $0.42, or 4.58 percent.
Gold prices soared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery in at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
After breaking the $45 level, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record.
Gold and silver prices continue to soar on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index was plunging 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy, and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offering support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
AngloGold Ashanti closed Wednesday at $49.74, gaining $0.72, or 1.47 percent. Goldcorp closed at $54.93, up $0.26, or 0.48 percent. Eldorado Gold Corporation ended the trading session at $18.04, rising $0.07, or 0.39 percent. US Gold closed at $9.58, jumping $0.42, or 4.58 percent.
Hess (HES) (HK) (XCO) (APC) Close Up as Oil Prices Explode
Shares of Hess Corporation (NYSE:HES), Petrohawk Energy Corp. (NYSE:HK), Exco Resources Inc. (NYSE:XCO) and Anadarko (NYSE:APC) closed up on Wednesday as oil prices surged in response to news oil inventories unexpectedly dropped.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
Anadarko closed Wednesday at $80.15, up $1.73, or 1.74 percent. Exco Resources Inc. closed at $20.40, gaining $0.12, or 0.59 percent. Petrohawk Energy Corp. ended the trading session at $26.91, rising $0.29, or 1.09 percent. Hess Corporation closed at $80.55, jumping $1.99, or 2.53 percent.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
Anadarko closed Wednesday at $80.15, up $1.73, or 1.74 percent. Exco Resources Inc. closed at $20.40, gaining $0.12, or 0.59 percent. Petrohawk Energy Corp. ended the trading session at $26.91, rising $0.29, or 1.09 percent. Hess Corporation closed at $80.55, jumping $1.99, or 2.53 percent.
BP (BP) (PBR) (BEXP) (SLB) Close Up as Oil Prices Explode
Shares of Petrobras (NYSE:PBR), Brigham Exploration (Nasdaq:BEXP), Schlumberger (NYSE:SLB) and BP (NYSE:BP) closed up on Wednesday as oil prices surged in response to news oil inventories unexpectedly dropped.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
BP Wednesday at $45.91, up $1.23, or 2.75 percent. Schlumberger closed at $87.89, gaining $1.76, or 2.04 percent. Brigham Exploration ended the trading day at $34.46, rising $1.20, or 3.61 percent. Petrobras closed at $37.84, jumping $0.75, or 2.02 percent.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
BP Wednesday at $45.91, up $1.23, or 2.75 percent. Schlumberger closed at $87.89, gaining $1.76, or 2.04 percent. Brigham Exploration ended the trading day at $34.46, rising $1.20, or 3.61 percent. Petrobras closed at $37.84, jumping $0.75, or 2.02 percent.
Wednesday, April 20, 2011
BP (BP) (XOM) (APA) (DVN) Close Up as Oil Jumps Again
Questions as to the sustainability of high gasoline prices have been surfacing, but in America, it appears the higher prices aren't going away any time soon, and neither will higher oil prices, as BP (NYSE:BP), Exxon Mobil (NYSE:XOM), Apache Corp (NYSE:APA) and Devon Energy (NYSE:DVN) closed up on Tuesday.
Oil rose above $108 a barrel Tuesday, as the U.S. dollar weakened against other major currencies.
Benchmark crude for May delivery rose $1.03 to settle at $108.15 a barrel on the New York Mercantile Exchange. Tuesday is the last trading day for that contract. Oil for June delivery climbed 59 cents to settle at $108.28 a barrel.
In other Nymex trading for May contracts, heating oil lost 2.43 cents to settle at $3.1585 a gallon and gasoline futures fell 1.97 cents to settle at $3.2331 a gallon. Natural gas jumped 12.4 cents to settle at $4.262 per 1,000 cubic feet.
In London, Brent crude fell 28 cents to settle at $121.33 a barrel on the ICE Futures exchange.
BP closed Tuesday at $44.68, gaining $0.21, or 0.47 percent. Devon Energy ended the day at $86.97, rising $0.78, or 0.90. Apache Corp. closed at $121.99, jumping $1.11, or 0.92 percent. Exxon Mobil closed the session at $83.80, up $0.70, or 0.84 percent.
Oil rose above $108 a barrel Tuesday, as the U.S. dollar weakened against other major currencies.
Benchmark crude for May delivery rose $1.03 to settle at $108.15 a barrel on the New York Mercantile Exchange. Tuesday is the last trading day for that contract. Oil for June delivery climbed 59 cents to settle at $108.28 a barrel.
In other Nymex trading for May contracts, heating oil lost 2.43 cents to settle at $3.1585 a gallon and gasoline futures fell 1.97 cents to settle at $3.2331 a gallon. Natural gas jumped 12.4 cents to settle at $4.262 per 1,000 cubic feet.
In London, Brent crude fell 28 cents to settle at $121.33 a barrel on the ICE Futures exchange.
BP closed Tuesday at $44.68, gaining $0.21, or 0.47 percent. Devon Energy ended the day at $86.97, rising $0.78, or 0.90. Apache Corp. closed at $121.99, jumping $1.11, or 0.92 percent. Exxon Mobil closed the session at $83.80, up $0.70, or 0.84 percent.
Tuesday, April 19, 2011
Apache (APA) (RIG) (CAM) (MRO) Close Down as Oil, Gas Prices Fall
With anticipation the demand for crude oil and gasoline will drop because of high prices, as Transocean (NYSE:RIG), Apache Corp (NYSE:APA), Cameron International (NYSE:CAM) and Marathon Oil (NYSE:MRO) all closed down Monday, as the overall sector was under pressure.
Crude-oil futures dropped Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.
Benchmark light, sweet crude for May delivery fell $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.
Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.
May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.
May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.
Marathon Oil closed Monday at $51.09, down $0.24, or 0.47 percent. Cameron International ended the day at $53.11, falling $0.24, or 0.45 percent. Apache Corp. closed at $120.93, dropping $1.47, or 1.20 percent. Transocean closed at $74.17, losing $1.41, or 1.87 percent.
Crude-oil futures dropped Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.
Benchmark light, sweet crude for May delivery fell $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.
Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.
May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.
May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.
Marathon Oil closed Monday at $51.09, down $0.24, or 0.47 percent. Cameron International ended the day at $53.11, falling $0.24, or 0.45 percent. Apache Corp. closed at $120.93, dropping $1.47, or 1.20 percent. Transocean closed at $74.17, losing $1.41, or 1.87 percent.
Hess (HES) (NOG) (PBR) (HK) Close Down as Oil, Gas Prices Fall
As perceptions demand for crude oil and gasoline will drop because of high prices, Hess Corporation (NYSE:HES), Northern Oil and Gas (Amex:NOG), Petrohawk Energy Corp. (NYSE:HK) and Petrobras (NYSE:PBR) all closed down Monday, as the overall sector took a breather.
Crude-oil futures dropped Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.
Benchmark light, sweet crude for May delivery fell $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.
Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.
May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.
May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.
Hess Corporation closed Monday at $77.21, down $1.67, or 2.12 percent. Northern Oil and Gas ended the day at $22.10, falling $1.26, or 5.39 percent. Petrohawk Energy Corp. closed at $26.00, dropping $0.31, or 1.18 percent. Petrobras closed at $36.33, losing $1.48, or 3.91 percent.
Crude-oil futures dropped Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.
Benchmark light, sweet crude for May delivery fell $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.
Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.
May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.
May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.
Hess Corporation closed Monday at $77.21, down $1.67, or 2.12 percent. Northern Oil and Gas ended the day at $22.10, falling $1.26, or 5.39 percent. Petrohawk Energy Corp. closed at $26.00, dropping $0.31, or 1.18 percent. Petrobras closed at $36.33, losing $1.48, or 3.91 percent.
Shell (RDS-A) (RRC) (CHK) (CVX) Close Down as Oil, Gas Prices Fall
As perceptions demand for crude oil and gasoline will drop because of high prices, shares of Range Resources (NYSE:RRC), Chesapeake Energy (NYSE:CHK), Shell (NYSE:RDS-A) and Chevron (NYSE:CVX) all closed down Monday, as the overall sector took a breather.
Crude-oil futures were down Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.
Benchmark light, sweet crude for May delivery dropped $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.
Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.
May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.
May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.
Chevron (NYSE:CVX) closed Monday at $104.50, down $1.74, or 1.64 percent. Shell ended the day at $71.22, falling $1.64, or 2.25 percent. Chesapeake Energy closed at $31.98, dropping $0.75, or 2.29 percent. Range Resources closed at $52.57, losing $0.68, or 1.28 percent.
Crude-oil futures were down Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.
Benchmark light, sweet crude for May delivery dropped $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.
Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.
May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.
May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.
Chevron (NYSE:CVX) closed Monday at $104.50, down $1.74, or 1.64 percent. Shell ended the day at $71.22, falling $1.64, or 2.25 percent. Chesapeake Energy closed at $31.98, dropping $0.75, or 2.29 percent. Range Resources closed at $52.57, losing $0.68, or 1.28 percent.
Monday, April 18, 2011
Devon (DVN (CAM) (PTR) (STR) Closed Mixed as Oil, Gas Continue to
Cameron International (NYSE:CAM), Devon Energy (NYSE:DVN), PetroChina (NYSE:PTR) and Questar Corporation (NYSE:STR) closed mixed on Friday even as oil prices continued to rise, along with gasoline prices, which have risen on
national average for 24 days in a row.
Benchmark West Texas Intermediate crude for May delivery on Friday climbed $1.55 to settle at $109.66 a barrel on the New York Mercantile Exchange. At one point it rose to $110.10. In London, Brent crude added $1.45 to settle at $123.45 a barrel on the ICE Futures exchange.
Gasoline Friday rose 5.45 cents to settle at $3.2892 a gallon. Natural gas dropped 0.8 cent to settle at $4.204 per 1,000 cubic feet. Heating oil increased 3.52 cents to settle at $3.2242 a gallon.
The average price of gasoline is now above $4 a gallon in five states, and it is about rise to that level in New York and Washington, D.C. over the weekend.
Questar closed Friday at $17.13, gaining $0.19, or 1.12 percent. PetroChina closed at $152.17, jumping $0.81, or 0.54 percent. Devon Energy ended the session at $87.82, up $0.05, or 0.06 percent. Cameron International closed at $53.35, falling $0.02, or 0.04 percent.
national average for 24 days in a row.
Benchmark West Texas Intermediate crude for May delivery on Friday climbed $1.55 to settle at $109.66 a barrel on the New York Mercantile Exchange. At one point it rose to $110.10. In London, Brent crude added $1.45 to settle at $123.45 a barrel on the ICE Futures exchange.
Gasoline Friday rose 5.45 cents to settle at $3.2892 a gallon. Natural gas dropped 0.8 cent to settle at $4.204 per 1,000 cubic feet. Heating oil increased 3.52 cents to settle at $3.2242 a gallon.
The average price of gasoline is now above $4 a gallon in five states, and it is about rise to that level in New York and Washington, D.C. over the weekend.
Questar closed Friday at $17.13, gaining $0.19, or 1.12 percent. PetroChina closed at $152.17, jumping $0.81, or 0.54 percent. Devon Energy ended the session at $87.82, up $0.05, or 0.06 percent. Cameron International closed at $53.35, falling $0.02, or 0.04 percent.
BP (BP) (MRO) (HAL) (PBR) Closed Mixed as Oil, Gas Continue to
BP (NYSE:BP), Marathon Oil (NYSE:MRO), Halliburton (NYSE:HAL) and Petrobras (NYSE:PBR) closed mixed on Friday even as oil prices continued to rise, along with gasoline prices, which have risen on national average for 24 days in a row.
Benchmark West Texas Intermediate crude for May delivery on Friday climbed $1.55 to settle at $109.66 a barrel on the New York Mercantile Exchange. At one point it rose to $110.10. In London, Brent crude added $1.45 to settle at $123.45 a barrel on the ICE Futures exchange.
Gasoline Friday rose 5.45 cents to settle at $3.2892 a gallon. Natural gas dropped 0.8 cent to settle at $4.204 per 1,000 cubic feet. Heating oil increased 3.52 cents to settle at $3.2242 a gallon.
The average price of gasoline is now above $4 a gallon in five states, and it is about rise to that level in New York and Washington, D.C. over the weekend.
Petrobras closed Friday at $37.24, gaining $0.87, or 2.36 percent. Halliburton closed at $46.82, jumping $0.68, or 1.47 percent. Marathon Oil ended the day at $51.33, up $0.16, or 0.31 percent. BP closed at $44.96, falling $0.58, or 1.27 percent.
Benchmark West Texas Intermediate crude for May delivery on Friday climbed $1.55 to settle at $109.66 a barrel on the New York Mercantile Exchange. At one point it rose to $110.10. In London, Brent crude added $1.45 to settle at $123.45 a barrel on the ICE Futures exchange.
Gasoline Friday rose 5.45 cents to settle at $3.2892 a gallon. Natural gas dropped 0.8 cent to settle at $4.204 per 1,000 cubic feet. Heating oil increased 3.52 cents to settle at $3.2242 a gallon.
The average price of gasoline is now above $4 a gallon in five states, and it is about rise to that level in New York and Washington, D.C. over the weekend.
Petrobras closed Friday at $37.24, gaining $0.87, or 2.36 percent. Halliburton closed at $46.82, jumping $0.68, or 1.47 percent. Marathon Oil ended the day at $51.33, up $0.16, or 0.31 percent. BP closed at $44.96, falling $0.58, or 1.27 percent.
Thursday, April 14, 2011
Plains (PXP) (CRK) (CLR) (SWN) Close Up as Crude Prices Rebound
Shares of oil and energy companies like Southwestern Energy (NYSE:SWN), Continental Resources (NYSE:CLR), Plains Exploration & Production (NYSE:PXP) and Comstock Resources (NYSE:CRK) all closed up Wednesday as crude oil prices rebounded after two days of trading down.
Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.
Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.
The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.
The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.
Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.
Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.
May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.
Comstock Resources closed Wednesday at $28.86, gaining $0.33, or 1.16 percent. Continental Resources closed at $66.63, up $0.90, or 1.37 percent. Southwestern Energy closed at $38.41, rising $0.39, or 1.03 percent. Plains Exploration & Production ended the day at $34.25, jumping $0.35, or 1.03 percent.
Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.
Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.
The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.
The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.
Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.
Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.
May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.
Comstock Resources closed Wednesday at $28.86, gaining $0.33, or 1.16 percent. Continental Resources closed at $66.63, up $0.90, or 1.37 percent. Southwestern Energy closed at $38.41, rising $0.39, or 1.03 percent. Plains Exploration & Production ended the day at $34.25, jumping $0.35, or 1.03 percent.
Conoco (COP) (CAM) (STR) (XCO) Close Up as Crude Prices Rebound
Shares of oil and energy companies like ConocoPhillips (NYSE:COP), Cameron International (NYSE:CAM), Questar Corporation (NYSE:STR) and Exco Resources Inc. (NYSE:XCO) all closed up Wednesday as crude oil prices rebounded after two days of trading down.
Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.
Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.
The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.
The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.
Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.
Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.
May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.
Exco Resources Inc. closed Wednesday at $20.78, gaining $0.01, or 0.05 percent. Questar Corporation closed at $16.88, up $0.22, or 1.32 percent. Cameron International closed at $53.57, rising $0.72, or 1.36 percent. ConocoPhillips ended the day at $77.66, jumping $0.50, or 0.65 percent.
Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.
Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.
The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.
The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.
Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.
Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.
May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.
Exco Resources Inc. closed Wednesday at $20.78, gaining $0.01, or 0.05 percent. Questar Corporation closed at $16.88, up $0.22, or 1.32 percent. Cameron International closed at $53.57, rising $0.72, or 1.36 percent. ConocoPhillips ended the day at $77.66, jumping $0.50, or 0.65 percent.
Halliburton (HAL) (APC) (DVN) (WTI) Close Up as Crude Prices Rebound
Shares of oil and energy companies like Halliburton (NYSE:HAL), Anadarko (NYSE:APC), Devon Energy (NYSE:DVN) and W&T Offshore (NYSE:WTI) closed up Wednesday as crude oil prices rebounded after two days of trading down.
Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.
Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.
The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.
The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.
Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.
Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.
May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.
W&T Offshore closed Wednesday at $21.81, gaining $0.03, or 0.14 percent. Devon Energy closed at $87.72, up $1.74, or 2.02 percent. Anadarko closed at $78.34, rising $0.91, or 1.18 percent. Halliburton ended the day at $45.51, jumping $0.17, or 0.37 percent.
Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.
Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.
The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.
The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.
Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.
Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.
May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.
W&T Offshore closed Wednesday at $21.81, gaining $0.03, or 0.14 percent. Devon Energy closed at $87.72, up $1.74, or 2.02 percent. Anadarko closed at $78.34, rising $0.91, or 1.18 percent. Halliburton ended the day at $45.51, jumping $0.17, or 0.37 percent.
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