new york mercantile exchange

Oil drops below $100 on global economic weakness

Mon, 29 Sep 2008 17:55:04 -0500

Oil prices tumbled Monday as concerns about global economic weakness outweighed signs that lawmakers are close to passing a $700 billion bailout of the U.S. financial system. Light, sweet crude for November delivery was down $8.19 to $98.70 a barrel in morning trade on the New York Mercantile Exchange.

Oil falls below $99 on low Ike damage

Mon, 15 Sep 2008 13:33:50 -0500

Oil prices fell below $99 a barrel on Monday after Hurricane Ike inflicted minimal damage to oil installations on the Texas coast.

Light, sweet crude for October delivery declined $2.28 to $98.90 a barrel in electronic trading on the New York Mercantile Exchange midafternoon in Singapore. The contract rose 31 cents on Friday to settle at $101.18 after dropping as low as $99.99 per barrel. Before that, the last time Nymex crude traded below the $100 mark was April 2.

Price of oil dips below $100 a barrel

Sat, 13 Sep 2008 15:24:57 -0500

For the first time since April 2, the price of oil has fallen below $100 US a barrel. At 1.45 p.m. EDT, the going rate for October crude future on the New York Mercantile Exchange was $99.99 US. It subsequently rose back above $100.

Oil falls on global demand fears, stronger dollar

Wed, 03 Sep 2008 11:07:19 -0500

Oil prices dipped to near $108 a barrel Wednesday as the dollar continued to strengthen and attention shifted to concerns over slowing global demand for crude after Hurricane Gustav left oil installations in the Gulf of Mexico region largely undamaged.

By midday in Europe, light, sweet crude for October delivery was down $1.46 to $108.25 a barrel in electronic trading on the New York Mercantile Exchange.

Oil jumps above $116 on Russian-Georgia conflict

Mon, 11 Aug 2008 02:40:48 -0500

Oil prices rebounded Monday in Asia to above $116 a barrel on concerns a widening conflict between Russia and Georgia over a breakaway province could disrupt supplies in the region.

Light, sweet crude for September delivery rose $1.46 to $116.66 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract fell $4.82 on Friday to settle at $115.20 a barrel.

Oil steady above $145 in Asia on Saudi declaration

Sun, 06 Jul 2008 06:00:45 -0500

Oil prices remained near record highs above $145 a barrel in Asia after Saudi Arabia's oil minister suggested his country doesn't plan to boost production.

Light, sweet crude for August delivery was up 23 cents at $145.52 a barrel in Asian electronic trading on the New York Mercantile Exchange, midafternoon in Singapore. Crude futures rose to $145.85, a record high, in New York on Thursday before settling at a record finish of $145.29 a barrel.

Oil prices have risen more than 50 percent so far this year.

Oil climbs to $142 a barrel in Asia

Tue, 01 Jul 2008 11:21:51 -0500

Oil prices climbed to $142 a barrel Tuesday amid concerns about tensions between Iran and Israel and a weakening dollar.

'You have supply-side concerns, such as the rhetoric on Iran, that will likely keep a floor under prices,' said Victor Shum, an analyst with Purvin & Gertz in Singapore. 'I don't see much resistance to $150, which could happen in the coming weeks.'

Late afternoon in Singapore, light, sweet crude for August delivery was up $2.00 at $142.00 a barrel in Asian electronic trading on the New York Mercantile Exchange.

US stocks head for mixed open as oil tops $143

Tue, 01 Jul 2008 07:21:22 -0500

Stocks headed for a narrowly mixed open Monday as oil prices set a new trading record and investors awaited a regional manufacturing reading for hints about where the market might be headed after last week's steep sell-off.

Light, sweet crude traded above $143 per barrel for the first time early Monday before pulling back and changing hands up $2.08 at $142.29 in premarket electronic trading on the New York Mercantile Exchange.

China raises prices for fuel, electricity

Fri, 20 Jun 2008 20:26:49 -0500

China raised prices for fuel by as much as 18 percent on Friday in a move intended to cool the nation's surging energy consumption.

Demand for the energy needed fuel China's booming economy has contributed to unheard of prices for a barrel of oil. That price pitched downward immediately Thursday. Light, sweet crude for July delivery fell $4.75 to settle at $131.93 a barrel on the New York Mercantile Exchange.

The price increases were announced late Thursday by the National Development and Reform Commission, the government's main economic planning agency.

Oil rises on news of Nigerian rig attack

Thu, 19 Jun 2008 23:31:54 -0500

Oil prices rose in Asia on news that a Nigerian militant group attacked an oil installation Thursday, raising concerns about possible supply outages in Africa's largest oil producer.

Light, sweet crude for July delivery was up 23 cents to $136.91 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract on Wednesday rose $2.67 to settle at $136.68 a barrel.