August 26, 2009

Crude oil prices end session lower

Crude oil futures fell for the second straight day Wednesday, finishing below $72 in afternoon trading on the New York Mercantile Exchange.

Crude oil for delivery in October fell 62 cents to $71.43 per barrel, a drop of 0.1 percent, as investors sensed continuing slack demand, which was indicated by a U.S. Energy Department report showing rising stockpiles.

The NYMEX heating oil futures were virtually unchanged, finishing at $1.852 per gallon, while reformulated gasoline futures fell 2.44 cents to end at $1.9826 per gallon.

Natural gas futures, meanwhile, were lower, trading at $2.882 per 1,000 cubic feet, down by 2.8 cents.

AAA reported Wednesday the average U.S. price for unleaded regular gasoline was $2.622 per gallon, down slightly from Tuesday's level of $2.623 per gallon.