Energy Prices Rising on Cold Weather Fears
October 25, 2005
Energy prices on the New York Mercantile Exchange rose Tuesday on reports of winter weather in northern parts of the United States.
High-quality crude oil for December delivery rose 60 cents to $60.92 per barrel, and natural gas rose about 42 cents to $13.42 per million Btu.
Gasoline was up to $1.5975 per gallon, and heating oil climbed as well, hitting $1.829 per gallon.
Meteorologists predicted a cold snap for parts of New England, prompting buyers to buy natural gas and heating oil, which in turn lifted other energy prices.