U.S. Oil Trades Above $84 a Barrel
October 15, 2007
U.S. oil prices traded above $84 a barrel Monday after a record close the previous session on inadequate-supply fears and Persian Gulf tensions.
Light, sweet crude for November delivery rose $1.07, or 1.28 percent, to $84.76 a barrel in mid-morning trading on the New York Mercantile Exchange.
November natural gas futures added 20 cents, or 2.9 percent, to $7.18 per 1,000 cubic feet.
Heating oil gained 3.36 cents, or 1.5 percent, to $2.28 a gallon.
Reformulated-gasoline blendstock for oxygen blending added 2.54 cents, or 1.22 percent, to $2.1105 a gallon.
AAA said the average U.S. retail regular unleaded gasoline price was $2.757 a gallon, down 0.4 cents from Sunday’s $2.761 a gallon.