Americas
Monday, 24 September 2012 03:51
724
NEW YORK: Gasoline prices in the United States dropped four-tenths of a cent over the past two weeks as crude oil prices fell, ending seven weeks of price increases, according to a widely followed survey.
The national average price of a gallon of regular gasoline was $3.8338 on Sept. 21, down from $3.8376 on Sept. 7, according to Trilby Lundberg, editor of the Lundberg Survey, which covers some 2,500 gas stations nationwide.
While the decline is small enough to be considered "no change," it ends a seven-week run of gas price increases dating to July 27, when the average gallon of gas cost $3.51, Lundberg said on Sunday.
The change was spurred by a fall in crude oil prices caused in part by signals that Saudi Arabia may be willing to supply more oil to the market to lower prices, Lundberg said.
The news could portend a period of price stability assuming relative status ...
NEW YORK: Oil rose for a second straight session on Friday as supply concerns and economic optimism fuelled a rebound from a 7 percent slide earlier in the week.
Brent crude topped $111 a barrel in US trading. That followed a three-day sell-off through Wednesday that had sent prices from over $116 down to $108 due to rising US inventories and efforts by Saudi Arabia to tame prices.
Oil scraped lows not seen since early August on ...
NEW YORK: US natural gas futures ended higher on Friday for a second straight day, backed by technical buying and short-covering ahead of the weekend though mild weather forecasts and slowing demand helped limit the upside.
Technical traders noted buying picked up in the last two days as prices rebounded from an oversold condition following a 10 percent slide in five straight sessions. But most agreed the market seemed stuck in a range between $2.70 and ...
NEW YORK: US spot natural gas prices traded mixed for a second day on Thursday, but most prices, including benchmark Henry Hub gas in Louisiana, rose after four straight losses.
High nuclear power plant outages, a lighter-than-average weekly storage build and stronger gas futures after five declines, combined to support most prices.
But milder autumn weather blanketing much of the nation led to some losses, and is expected to limit further upside, traders said.
Gas for Friday delivery ...
CALGARY: Irving Oil Ltd said on Wednesday that its Saint John, New Brunswick, refinery, Canada's largest, was in its annual maintenance turnaround and that it expected to complete the work in the next few weeks.
"There are no production delays or issues with supply," spokeswoman Lesley Dickson said in an email.
She did not detail which units are undergoing work or describe the impact on output at the 300,000-barrel-a-day plant.
Copyright Reuters, 2012 ...
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