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http://www.forbes.com/business/businesstech/feeds/ap/2005/11… Associated Press Update 7: Oil Prices Steady; Traders Watch Weather 11.01.2005, 03:52 PM Crude prices steadied Tuesday after falling more than $1 a barrel the day before amid forecasts calling for warmer weather in the United States. Light sweet crude rose 9 cents to settle at $59.85 a barrel on the New York Mercantile Exchange, where a day earlier they had fallen by $1.46. Oil prices are now 15 percent below the Aug. 30 intraday peak of $70.85. Heating oil futures slipped 1.89 cent settle at $1.805 per gallon and gasoline futures rose 1.35 cent to $1.6036 per gallon. Nymex natural gas futures fell 34.5 cents to finish at $11.86 per 1,000 cubic feet. On London`s ICE Futures exchange, formerly known as the International Petroleum Exchange, December Brent futures fell 7 cents to $58.03. Analysts are paying close attention to the weather in the U.S. Northeast and Midwest as a gauge of demand for home-heating fuels such as natural gas and heating oil. If the weather is warmer than usual, that will give much-needed breathing room to producers in the Gulf of Mexico that are still recovering from hurricanes Katrina and Rita. A balmy weather forecast this week in the Northeast U.S. was seen as a factor in Monday`s selling, with temperatures expected in the mid-60s to lower 70s for much of the region. Weather can often affect futures prices for many petroleum products, as traders in the area weigh the prospects for winter heating demand, based on their own observations. Just last week, a storm brought snow to parts of the Northeast, and oil prices rose after the National Oceanic and Atmospheric Administration predicted the U.S. winter would be colder than last year, but warmer than the 30-year average. Oil prices are still about 20 percent higher than a year ago amid concerns that supplies could be tight this winter because of hurricane-related damage to platforms and pipelines in the Gulf of Mexico. Recovery efforts have been slow. The U.S. Minerals Management Service said Tuesday that 67 percent of daily oil production and 53 percent of natural gas production in the Gulf of Mexico remained off-line, slightly lower than Monday. |
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| aus der Diskussion: | QOIL steigt, ---> aber warum?? |
| Autor (Datum des Eintrages): | XIO (03.11.05 13:16:24) |
| Beitrag: | 103 von 467 (ID:18555122) |
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