Tuesday, August 25, 2009

Natural Gas Up from 2.72 to 2.96 mmBTU


NEW YORK, Aug. 24 (UPI) -- Crude oil prices tried to push past $75 per barrel Monday, but couldn't quite make it, settling at $74.37 on the New York Mercantile Exchange.

Investors took a comparative breather from the front-month light sweet crude contract, which had seen frenzied trading last week on optimism a U.S. economic recovery is in the offing. Trading volume for the October 2009 contract was 202,632, well down from Friday's 275,213, NYMEX said. Oil finished 15 cents lower.

Heating oil futures settled higher at $1.9234 per gallon, gaining 1.85 cents. Reformulated gasoline futures also finished well higher at $2.0491, jumping by $0.0126, while natural gas prices rebounded nicely off a low of $2.726 per 1,000 cubic feet, ending at $2.923.

The average price of a gallon of unleaded gas fell 0.001 cent from Sunday's $2.627 to $2.626, the AAA reported.

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