Oil Prices Rise Above $104; Natural Gas Sinks

The price of oil rose more than a $1 for the third time in the last four trading days, and closed above $104 for the first time since July 3.

Benchmark U.S. crude for August delivery rose $1.46 to $104.59 on the New York Mercantile Exchange. On Friday, the Nymex contract fell 6 cents to $103.13. Oil has gained 4.6 percent over the past four trading sessions.

Brent crude for September delivery, a benchmark for international oils, gained 44 cents to $107.68 on the ICE exchange in London.

Meanwhile, natural gas prices sank further below $4 on forecasts for cooler temperatures in parts of the U.S. Natural gas supplies haven't been dropping as quickly this summer, as milder temperatures compared with last year reduce the need for homeowners to run the air conditioning full tilt.

Natural gas fell 10 cents to $3.85 per 1,000 cubic feet.

At the pump, gasoline prices inched lower to an average of $3.57. That's down 4 cents from a week ago and 11 cents cheaper than at this time last year.

In other Nymex trading:

  • Wholesale gasoline rose 3 cents to $2.89 a gallon.
  • Heating oil gained 1 cent to $2.86 a gallon.

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 This material may not be published, broadcast, rewritten, or redistributed.


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.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Oilfield Sales Representative - Outside Sales (Oil and Gas)
Expertise: Business Development|Project Management|Sales
Location: Odessa, TX
United States Duncan MFG: Entry Level QA/QC Inspector
Expertise: Energy / Commodity Trading|Helicopter Pilot / Operations|QA / QC / Inspection
Location: Duncan, OK
Project Controls Specialist
Expertise: Project Management
Location: Minneapolis
search for more jobs

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours