Commodity Corner: Crude Revisits the Sixties

The price of crude oil took a trip back in time Monday, but not to the era of lava lamps, hip-huggers, and go-go boots. Instead it fell below $70 a barrel, rekindling memories of December 14, 2009, when it last closed within the $60-$70 range.

Crude did settle above the $70 mark -- $70.08 to be exact -- but lingering fears about a weak Euro versus the Greenback and a spread of the financial havoc that has hit Greece caused the price to reach a low point of $69.27 Monday. At the other end of the spectrum, the intraday high was $72.25 64 cents higher than Friday's settlement price.

Natural gas prices, meanwhile, rose on expectations of a busier-than-normal hurricane season and the sentiment that the economy is recovering. The Henry Hub Natural Gas Futures June contract price settled at $4.40, nine cents above Friday's settlement. The intraday high and low for Monday were $4.28 and $4.41, respectively.

The gasoline futures price declined Monday, settling at $2.04 after trading within a range of $2.04 to $2.14. Friday's settlement price was $2.13.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Sales- Decontamination/Chemical Cleaning Services
Expertise: Sales
Location: Baton Rouge, LA
Account Manager - Western US - Vapor Control & Degassing
Expertise: Sales
Location: Long Beach, CA
Sales Manager - Vapor Control/Degassing Services
Expertise: Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours