72.6 F
Fort Worth
Monday, September 21, 2020
- Advertisements -
Energy Crude oil steady as US cold underpins demand

Crude oil steady as US cold underpins demand

Other News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude...

Trump to discuss energy, tour oil rig, raise money in Texas

By DARLENE SUPERVILLE Associated PressWASHINGTON (AP) — President Donald Trump will shift his focus to American energy dominance during a stop in...

Basic Energy Services makes organizational changes

Fort Worth-based Basic Energy Services, Inc. (OTCQX: BASX) in late May announced the implementation of changes to the organizational structure of the...

Texas oil producers were cutting output before Railroad Commission chose not to, Commissioner Christi Craddick says

By Cassandra PollockMay 12, 2020 Texas Railroad Commissioner Christi Craddick on Tuesday doubled down on the agency’s recent decision...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

The Associated Press

The price of oil was little changed Friday, underpinned by demand stemming from arctic weather in the U.S.

Benchmark U.S. crude for April delivery was down 14 cents at $102.61 a barrel at 0825 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 9 cents to close at $102.75 on Thursday.

Brent crude, used to set prices for international varieties of crude, was down 3 cents at $110.27 a barrel.

“Market players are now looking at weather conditions in the U.S., it’s quite cold and heating oil demand is getting tighter so that is supporting the crude oil prices,” said Tetsu Emori, commodity markets fund manager at ASTMAZ Futures Co. in Tokyo.

He said the inventory of natural gas in the U.S. has also fallen, pushing up the price of the commodity.

On Thursday, oil prices fell after a monthly survey by HSBC found that China’s manufacturing, a driver of the global economy, contracted for a second straight month.

But uncertainty about protests in Venezuela, a major U.S. oil supplier, as well as export disruptions in Libya and South Sudan kept a floor under oil prices.

Prices were also steadied by a weekly report from the U.S. Energy Department released Thursday that revealed that oil stockpiles grew about half as fast as expected, according to analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos.

In other energy futures trading in New York:

— Wholesale gasoline fell 0.3 cent to $3.018 a gallon.

— Natural gas added 17.7 cents to $6.241 per 1,000 cubic feet.

— Heating oil shed 0.4 cent to $3.08 a gallon.

 

 

 

 

- Advertisements -
- Advertisements -

Latest News

From abortion access to immigration, the battle over the open Supreme Court seat will affect Texas for a generation

By Abby Livingston, The Texas Tribune Sept. 20, 2020 "From abortion access to immigration,...

Tropical Storm Beta churns slowly toward Texas and Louisiana

By JUAN A. LOZANO Associated PressHOUSTON (AP) — Tropical Storm Beta trudged toward the coasts of Texas and Louisiana on Sunday, threatening...

Can Trump and McConnell get through the 4 steps to seat a Supreme Court justice in just 6 weeks?

Caren Morrison, Georgia State University United States Supreme Court...

Trump backs proposed deal to keep TikTok operating in US; Texas mentioned as HQ

By STAN CHOE AP Business WriterNEW YORK (AP) — President Donald Trump said Saturday he's given his "blessing" to a proposed deal...

Texas bars and distilleries rip Gov. Greg Abbott for leaving them out of “unacceptable” reopening plan

By Dan Rosenzweig-Ziff, The Texas Tribune Sept. 19, 2020 "Texas bars and distilleries rip...