Crude Prices Fall More Than $3 Per Barrel
Posted on: Tuesday, 14 October 2008, 18:00 CDT
Crude oil prices fell more than $3 per barrel Tuesday, adding credence to analysts' predictions average prices would decline next year.
Commodity analysts at Goldman Sachs had said crude oil would average $148 a barrel next year, The Wall Street Journal reported. On Sept. 16, they lowered their prediction to $123 per barrel. On Monday, however, they conceded the downward trend again. With oil prices down 44 percent from a July peak, Goldman cut next year's prediction to $86 a barrel, the Journal said.
On the New York Mercantile Exchange Tuesday, prices fell $3.09 to $78.75 per barrel. Heating oil prices fell 0.067 cents to $2.2758 per gallon. Reformulated blendstock gasoline fell 0.0505 cents to $1.8845 per gallon. Natural gas prices gained slightly, up 0.048 cents to $6.755 per million British thermal units.
At the pump, the average price for a gallon of regular unleaded gasoline was $3.163 Tuesday, down from Monday's $3.206 a gallon, AAA said.
Source: United Press International
Related Articles
- Oil Prices Tumble After World Oil Forecast
- Heating Oil Average Price Drops a Penny a Gallon
- High Prices Boost Bidding for Oil Leases
- Home Heating Oil Average Climbs
- Oil Prices Up on Heating Oil Expectations
- Gas Prices Soar Above $3 a Gallon, Could Go Higher
- South Korea to Release 2.5m Barrels of Crude Oil From Reserves
- US to sell 30 mln barrels from emergency oil stockpile
- U.S. to sell 30 mln barrels from govt oil stockpile
- CNPC Produced 396 Million Barrels of Crude Oil in First Half of 2005
 |
 |
User Comments (0)
RSS Feeds