Crude oil prices slipped under $70 per barrel during the weekend on the New York Mercantile Exchange on basic supply and demand fundamentals.
"The statistics we're getting are still very weak," said industry analyst Christophe Barret at Caylon, MarketWatch reported Monday.
Demand is "very weak and stocks are still very high, so there is no real support for prices," he said.
Light, sweet crude oil reached $69.67 Monday, down 20 cents. Heating oil prices added 0.0099 cents to $1.9184 per gallon. Reformulated gasoline prices lost 0.0042 cents to $1.8374 per gallon. Natural gas prices rose 0.225 cents to $5.388 per million British thermal units.
At the retail level, the average national price of unleaded gasoline dropped to $2.603 per gallon Monday, down Sunday's $2.609, AAA said.
1 comment:
Heating oil is used by the people more than any type of oil. The people use this type of oil for the cooking purposes and thus prepare delicious food stuffs. Due to the extensive use of the heating oil the prices of the oil has also gone very high.
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