Oil Rises, But Natural Gas Sinks In Volatile Trade

NEW YORK (AP) — The price of oil rose Monday as another cold spell for the U.S. Midwest and Northeast was expected to boost demand for heating oil at a time when many refineries are undergoing seasonal maintenance.

Benchmark U.S. crude for April delivery gained 62 cents to $102.82 a barrel on the New York Mercantile Exchange.

Natural gas futures were volatile, at one point nearing $6.50 per 1,000 cubic feet before dropping. Natural gas finished down 69 cents, or 11 percent, to $5.45. Although cold weather has returned to many areas after a brief warm spell, some forecasts suggest warmer weather by the end of next week. Profit-taking may have also pushed prices lower, traders said.

Brent crude, which is used to set prices for international varieties of crude, rose 79 cents to $110.64 on the ICE Futures exchange in London.

In other trading on the Nymex:

  • Wholesale gasoline was flat at $2.83 per gallon.
  • Heating oil fell 1 cent to $3.09 a gallon.

Copyright 2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Senior Product Champion
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
United States Houston: Engineering Project Manager
Expertise: Project Management
Location: Houston, TX
 
Project Coordinator - Construction
Expertise: Planner / Scheduler|Project Controls|Project Management
Location: Hayward, CA
 
search for more jobs

Brent Crude Oil : $55.45/BBL 0.99%
Light Crude Oil : $52.37/BBL 1.20%
Natural Gas : $3.42/MMBtu 0.88%
Updated in last 24 hours