SINGAPORE – Oil prices rose to above $42 a barrel Friday in Asia as traders speculated that a second front is opening in Israel's Gaza offensive, but analysts said gains would likely be limited by continuing weakness in demand for crude.
Light, sweet crude for February delivery rose 31 cents to $42.03 a barrel in electronic trading on the New York Mercantile Exchange by late afternoon in Singapore. The contract overnight fell 93 cents to settle at $41.70.
....
Dismal employment news and lousy reports from retailers also heighten fears that consumer demand will continue to weaken.
....
In other Nymex trading, gasoline futures rose 2.69 cents to $1.11 a gallon. Heating oil gained 1.68 cents to $1.55 a gallon while natural gas for February delivery jumped 4.2 cents to $5.63 per 1,000 cubic feet.
http://news.yahoo.com/s/ap/oil_prices
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore