Commodity Corner: Oil Falls; Natural Gas Holds On

Crude oil for March delivery settled at $86.71 a barrel Wednesday.

The midweek 23-cent decline in oil futures followed the U.S. Department of Energy's weekly report of commercial crude inventories. According to the DOE's Energy Information Administration (EIA), oil stocks rose by 1.9 million barrels last week to 345.1 million barrels.

Front-month crude fluctuated from $86.53 to $87.95 during Wednesday's trading.

March natural gas futures remained unchanged Wednesday, settling at $4.04 for the second consecutive day. Predictions of milder weather for much of the U.S. appeared to balance out analysts' expectations that EIA would announce an above-normal drop in inventories when it releases its weekly natural gas storage report Thursday.

Natural gas peaked at $4.08 and bottomed out at $3.99 Wednesday.

Gasoline for March delivery gained four cents to end the day at $2.53 a gallon. It traded within a range from $2.48 to $2.53.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Project Manager
Expertise: Project Management
Location: Anchorage, AK
 
Senior Accountant - Derivative Accounting
Expertise: Accounting|Energy / Commodity Trading|Financial Analyst
Location: Delaware, DE
 
United States Woodward: Chemical Account Manager I
Expertise: Business Development|Customer Service|Sales
Location: Woodward, OK
 
search for more jobs

Brent Crude Oil : $55.62/BBL 0.27%
Light Crude Oil : $49.89/BBL 0.00%
Natural Gas : $3.02/MMBtu 1.30%
Updated in last 24 hours