Crude oil\'s trial run at $100 a barrel fell short, as prices dropped to $96 per barrel Tuesday as the legs went out from under Monday\'s rally. West Texas Intermediate crude oil for October delivery dropped to $96.11, recently dropping 51 cents on the New York Mercantile Exchange. Oil was closing in on $100 per barrel when the Obama administration announced it would file a complaint with the World Trade Organization charging China with unfairly subsidizing its auto industry. Fearing a trade war would escalate, traders pulled back, at which point a sober assessment of the global economy showed the market could not support $100 per barrel just yet. Natural gas added 0.4 cents early to $2.869 per million British thermal unit. Home heating oil shed 0.13 cents to $3.1621 per gallon. Reformulated blendstock gasoline lost 0.15 cents to $2.9418 per gallon. At the pump, the average price for a gallon of regular unleaded gasoline was $3.859 per gallon, down from Monday\'s $3.862, AAA reported.
GMT 22:17 2018 Monday ,22 January
Opec output cuts near victoryGMT 22:57 2018 Saturday ,20 January
the literary canary in India's coalmineGMT 07:11 2018 Friday ,19 January
Oil market heads towards 'smooth rebalancing': OPECGMT 19:07 2018 Saturday ,13 January
Oil hits $70 a barrel for the first time in three yearsGMT 19:07 2018 Saturday ,13 January
Oil hits $70 a barrel for the first time in three yearsGMT 15:44 2018 Saturday ,13 January
Bahrain to host MERTC 2018GMT 18:24 2018 Friday ,12 January
No need to panic over $70 oil price: UAE Energy MinisterGMT 13:21 2018 Friday ,12 January
Kuwaiti oil price up 93 cents to stand at US$66.09 per barrelMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor