86.6 F
Fort Worth
Tuesday, October 20, 2020
Business Oil price slips below $102 a barrel

Oil price slips below $102 a barrel

Other News

Petalo, not Charmin: Virus brings Mexican toilet paper to US

By JOSEPH PISANI AP Retail Writer NEW YORK (AP) — Toilet...

Mall owners close to buying JC Penney out of bankruptcy

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a...

At Home launches collection with Fort Worth connection

At Home Group Inc. (NYSE: HOME), The Home Décor Superstore, has debuted an exclusive collection with interior...

Former Toys ‘R’ Us reopens as Havertys in Southlake

HAVERTYS (NYSE: HVT and HVT.A) will officially open its new store in Southlake Corners on Friday, August 21, 2020. The 32,300 square...
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 slipped below $102 a barrel on Friday, falling for a second day after spiking on lower U.S. inventories and tensions in the Ukraine and the Middle East.

Benchmark U.S. crude for September delivery was down 10 cents to $101.97 at 0555 GMT in electronic trading on the New York Mercantile Exchange. The contract dropped $1.05 to close at $102.07 a barrel on Thursday.

Brent crude, a benchmark for international oils, rose 13 cents to $107.20 in trading on the ICE exchange in London.

Lower-than-expected U.S. crude inventories in a weekly Energy Department report had driven prices up on Wednesday, but expectations of stronger growth in demand were later countered as gasoline supplies were nearly three times larger than predicted.

Still, the price of oil has stayed above $100 a barrel after a civilian jetliner was shot out of the sky last week over a part of eastern Ukraine controlled by pro-Russian separatists and as Israel’s invasion of the Gaza Strip added to risks of instability in the Middle East.

In other energies trading on Nymex:

— Wholesale gasoline rose 1.2 cent to $2.825 a gallon.

— Natural gas was little changed at $3.849 per 1,000 cubic feet.

— Heating oil added 0.6 cent to $2.885 a gallon.

 

 

 

Latest News

National Democratic super PAC says it will double its spending to $12 million in battle for the Texas House

Texas joins Trump administration’s lawsuit against Google, arguing the tech company has a monopoly

By Stacy Fernández, The Texas Tribune Oct. 20, 2020 "Texas joins Trump administration's lawsuit...

Fort Worth bar receives TABC sanction

An effort by the Texas Alcoholic Beverage Commission to enforce the state’s COVID-19 health and safety protocols resulted in emergency orders to...

Tarrant County reports 6 COVID deaths on Tuesday

Tarrant County Public Health on Oct. 20 reported six COVID-19 deaths.The deceased include a man from Arlington in his 90s, a man...

Funeral homes offer limousine rides to the polls nationwide

BALTIMORE (AP) — Some voters could ride in style to the polls on Election Day courtesy of funeral home limousines offered to...