Energy Prices Creep Up, but Crude Oil Off
November 16, 2005
Energy prices ticked up Wednesday on expectations of stronger demand for heating fuel in the United States.
The lone exception to the trend was crude oil, which fell to $56.76 per barrel, continued to sink under a massive supply overhang.
Prospects for a cold snap in the northeastern United States help boost the prices of heating oils. The biggest gainer in mid-morning trading on the New York Mercantile Exchange was natural gas, which hit $11.74 million Btu. Heating oil rose less dramatically to $1.682 per gallon.
Meanwhile, gasoline increased fractionally to $1.459 per gallon.