Commodity Corner: Crude Continues 5-Day Streak
Oil futures ended higher yet again Tuesday, settling at $85.81 a barrel as the market awaited a key vote from Slovakia on the euro-zone rescue fund.
Futures remained volatile during the trading session Tuesday ahead of Slovakia's vote. After 10 hours of debate in Parliament, the measure was rejected by 21 votes. Slovakia's vote was the last of the 17 member states of the euro needed to approve the 440 billion euro bailout fund.
Light, sweet crude added 40 cents Tuesday after peaking at $86.64 and bottoming out at $83.97. Brent crude settled up 1.6 percent at $110.73 a barrel after an earlier intraday peak of $111.20—the highest since Sep. 21.
November natural gas gained 2.1 percent Tuesday on cooler U.S. weather forecasts. A drop in temperatures increases the demand of gas-fired electricity.
After fluctuating between $3.51 and $3.63, prices for natural gas settled at $3.62 per thousand cubic feet on the New York Mercantile Exchange.
Gasoline for November delivery also settled higher, up nearly 2 percent. Gasoline prices ended the session at $2.75 a gallon with an intraday range of $2.67 to $2.76.