Energy Prices Creep Up, but Crude Oil Off
Posted on: Wednesday, 16 November 2005, 12:00 CST
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.
Source: United Press International
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