Saturday, November 27, 2010
Commodity Corner: Crude Oil Ends Lower on Stronger Dollar
Oil for January delivery fell 10 cents to end the day at $83.76 a barrel. The euro declined 0.9 percent against the greenback Friday. Thanks to Ireland's debt woes, along with those elsewhere in the bloc, the EU currency has slipped by more than seven percent in less than a month. A stronger dollar makes oil less of a value for those holding other currencies. Oil traded from $82.78 to $83.87 Friday.
Buoyed by predictions of colder temperatures in December for much of the country, January natural gas rose by a penny Friday to settle at $4.40 per thousand cubic feet. The December contract, which expired Wednesday, settled at $4.27.
The January natural gas futures price fluctuated from $4.35 to $4.48 Friday. December gasoline was unchanged Friday, again settling at $2.21. It traded within a range from $2.20 to $2.23.
Posted Courtesy of Rigzone.Com
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