May contracts for WTI were down 24 cents to $108.23 per barrel in mid-morning trade in New York after the People’s Bank of China raised interest rates for the fourth time since October in an effort to cool down inflation there.
Brent crude, on the other hand, had added 97 cents to $122.03 per barrel in the latest report from the ICE Futures Europe exchange in London as investors continued to worry about the situations in Libya, Bahrain and other places in the MENA region.
Fighting continued in Libya, with government troops bombarding opposition forces despite reports that a coalition of Western forces has destroyed 30 percent of the Libyan government’s military power, while there were still concerns over a postponement of elections in Nigeria.
In Bahrain, the government deported two Iraqi journalists who wrote for an opposition newspaper, even though it also reversed a ban on the paper after its editor-in-chief and two other editors quit, although government sources said that the editor-in-chief was fired.
Nymex May gasoline futures were up a cent to $3.18 per gallon while May heating oil futures added half a cent to also trade at $3.18 per gallon, but May natural gas futures were less than a cent lower to $4.28 per million British thermal units.
The retail price for a gallon of gasoline in the United States was up another 2 cents overnight, to $3.685 for a gallon of regular unleaded. For the latest updates PRESS CTR + D or visit Stock Market news Today
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