Tuesday, July 21, 2009

Oil Gains for 5th Day, Natural Gas Sees Potential

After choppy trading Tuesday, crude oil was able to make gains again on the New York Mercantile Exchange. With intra-day trading topping $65, oil prices eventually settled just below that. Crude oil settled at $64.72 a barrel in trading on the NYMEX Tuesday, a bump of 74 cents from Monday's close. Despite some volatile trading during the day and the expiration of the August deliveries, crude oil was able to continue its recent rally for the fifth day in a row."It seesawed pretty dramatically, and then the market did rebound strongly as we went into the last half-hour for expiration; and I think that helped boost oil prices to its fifth consecutive day gains,".....Complete Story

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