Commodity Corner: Oil, Natural Gas Finish Higher

December crude oil finished higher for the sixth consecutive day Monday.

Oil settled at $87.06 a barrel, a 21-cent gain from Friday, as traders contemplated positive U.S. employment numbers. On Friday, the U.S. Labor Department announced that nonfarm private-sector employment increased by 151,000 jobs last month. The country's official 9.6-percent unemployment rate remained unchanged, though.

Also applying upward pressure on the oil futures price was a stronger dollar. The euro lost ground to the greenback amid market concerns about mounting sovereign debt problems in Ireland, Spain, and Portugal.

Crude oil traded from $85.96 to $87.49.

For the second time in as many weeks, front-month natural gas settled above the $4.00 mark--$4.09 per thousand cubic feet, to be exact. Despite an ongoing high-inventory environment, predictions of below-normal temperatures in the Northeast spurred speculation that demand for gas-fired electricity will increase over the next two weeks.

Natural gas for December delivery peaked at $4.10 and bottomed out at $3.94.

December gasoline remained flat at $2.18 a gallon Monday. It traded within a range from $2.15 to $2.19.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Project Controls Analyst
Expertise: Project Management
Location: Corpus Christi, 
 
United States Bakersfield: Technical Advisor, PSL-Sales & Services
Expertise: Business Development|Marketing|Sales
Location: Bakersfield, CA
 
United States San Antonio: Account Rep, Bus Dev, Sr
Expertise: Business Development|Marketing|Sales
Location: San Antonio, TX
 
search for more jobs

Brent Crude Oil : $51.87/BBL 0.40%
Light Crude Oil : $47.64/BBL 0.56%
Natural Gas : $2.94/MMBtu 0.67%
Updated in last 24 hours