January 20, 2010 |
There were ample supplies of both crude oil and gasoline in the U.S., but the price of oil climbed Monday and managed to regain the $79- to $80-a-barrel level. Gasoline prices fell in California and nationally. Analysts said that oil's ability to remain high despite a variety of negative economic indicators, as well as retail gasoline's inability to escape its own demand fundamentals, were among the reasons that some U.S. refineries have been shut down or idled. On Tuesday, the nation's No. 2 oil company announced it would restructure its refinery business.
January 21, 1986 |
Oil futures prices continued falling in volatile trading today, dropping below $20 a barrel for the first time since 1979. At noon on the New York Mercantile Exchange, a barrel of West Texas Intermediate crude, the benchmark U.S. grade, was selling at $19.85 for delivery in February, down $1.42 from Monday's close of $21.27. Overabundance of supply, weak demand and market factors have all contributed to the decline, analysts said.
February 6, 1986 |
Oil futures prices stabilized Wednesday, moving back above the $16-a-barrel level and giving a breather to some of the other futures markets. Crude oil on the New York Mercantile Exchange advanced 72 cents a barrel after sinking $4.22 in the three previous trading sessions. Grain and precious-metals futures also settled higher, partly because of the increase in oil prices, analysts said. Heating oil futures advanced strongly, with the contract for delivery in March rising by 3.
February 13, 1986 |
Oil futures prices slumped again Wednesday, eroding the gains registered during a three-day rally last week and dipping below the $16 level. The crude oil contract for delivery in March touched $15.70 a barrel before settling at $15.73, down 82 cents on the New York Mercantile Exchange. The market reacted to a report late Tuesday showing "a strong buildup in crude stocks," said Peter Beutel, an analyst in New York with Rudolf Wolff Energy.
May 4, 2010 |
Gasoline prices are rising nationwide as the summer driving season nears, and oil futures appear poised for a breakout on encouraging economic news and fears about the seriousness of the Gulf of Mexico oil spill. Over the last week, pump prices saw their biggest jump in more than a month, according to the Energy Department's weekly survey of U.S. filling stations. Nationwide, the average price of a gallon of regular gasoline rose 4.9 cents to $2.898. In California it rose 3 cents to $3.118.
February 8, 1986 |
Oil futures prices rallied Friday for the third consecutive session, propelled by an aggressive demand for heating oil. The contract for heating oil for delivery in March, on which there is no daily trading limit, advanced by 4.96 cents a gallon on the New York Mercantile Exchange. The other deliveries were up the 2-cent limit.