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Tuesday, June 14, 2011

Crude oil prices in the New York market june 14 2011

Crude oil prices in the New York market june 14 2011 : Crude oil prices in the New York market continued to fall with the front-month futures contract down 2% on June 13, but the price for North Sea Brent held up despite an intraday sell-off, closing with a small gain that widened the spread between it and West Texas Intermediate to a record $21.80/bbl.

The front-month natural gas contract also fell 2% in New York on forecasts for milder weather and a rebound of offline nuclear generation, said analysts in the Houston office of Raymond James & Associates Inc. Signs of waning Chinese demand in May put downward pressure on crude prices, they said.

Meanwhile, Standard and Poor's downgraded the sovereign debt of Greece “to the world’s lowest level” and signaled the strong possibility of a default that would damage Europe’s economic recovery.

Energy prices june 14 2011

The July contract for benchmark US sweet, light crudes lost $1.99 to $97.30/bbl June 13 on the New York Mercantile Exchange. On the US spot market, WTI at Cushing dropped the same amount to the same closing price.

Heating oil for July delivery dipped 0.07¢ to $3.11/gal on NYMEX. RBOB for the same month declined 2.09¢ to $3/gal.

The July contract for natural gas decreased 11.1¢ to $4.65/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., closed at $4.72/MMbtu on June 13, down from $4.92/MMbtu June 9, the last available previous closing price.

In London, the July IPE contract for North Sea Brent increased 32¢ to $119.10/bbl.

The average price for OPEC’s basket of 12 benchmark crudes was down 12¢ to $113.33/bbl. So far this year, OPEC’s basket price has averaged $106.66/bbl. For the latest updates PRESS CTR + D or visit Stock Market news Today

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