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Tuesday, March 22, 2011

Crude oil prices effects of fighting continued in Libya and as anti-government demonstrations continued in Syria and Yemen

Crude oil prices effects of fighting continued in Libya and as anti-government demonstrations continued in Syria and Yemen : Crude oil prices were higher Tuesday as fighting continued in Libya and as anti-government demonstrations continued in Syria and Yemen.

Some government, religious and tribal leaders as well as some military leaders in Yemen have reportedly sided with protesters, raising the chances that the nation’s president will step down, although an offer he made to quit by the end of the year was rejected by protesters who want him out of office earlier than that.

Meanwhile, protests continued in Syria after at least four demonstrators were killed in earlier protests there although the national government fired the provincial governor in the region where the protesters were killed.

April contracts for West Texas Intermediate crude were up $1.34 to $103.67 per barrel at just past noon on the New York Mercantile Exchange, while Brent crude was last reported to have gained 79 cents to $115.75 per barrel on the ICE Futures Europe exchange in London.

Nymex April gasoline futures were up less than a cent to $3 per gallon in midday trade, while at the same time April heating oil added 3 cents to $3.08 per gallon and April natural gas was 4 cents higher, to $4.20 per million British thermal units.

Natural gas prices were up after a weather forecast predicted that temperatures east of the Mississippi River in the United States will return to below normal levels soon and remain there at least through the first few days of April, after the region saw above-normal temperatures last week.

At-the-pump prices for gasoline were a big lower overnight in the United States, with drivers paying an average of $3.547 per gallon for regular unleaded gasoline. For the latest updates PRESS CTR + D or visit Stock Market news Today

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