Tags: Oil | Prices | rise | election

Oil Prices Rise Ahead of Election

Monday, 05 November 2012 04:02 PM EST

The price of oil rose Monday in New York as investors awaited the result of Tuesday's U.S. presidential election.

Benchmark oil rose 79 cents to $85.65 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international varieties of oil, rose $2.05, or 1.9 percent, to $107.73 a barrel on the ICE Futures exchange in London.

AAA said the national average price for gasoline has dropped 7 cents in the past week to $3.47 per gallon. But gas prices have risen in New York and New Jersey, where the energy infrastructure was battered by Superstorm Sandy. It remains to be seen how much demand for oil and refined products has dropped overall in the storm-stricken region

In other trading in New York Monday:

— Wholesale gasoline rose 4.7 cents to $2.62 per gallon;

— Heating oil rose 3.6 cents to $2.98 per gallon;

— Natural gas was unchanged at $3.55 per 1,000 cubic feet.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Markets
The price of oil rose 79 cents to $85.65 a barrel on the New York Mercantile Exchange Monday.
Oil,Prices,rise,election
156
2012-02-05
Monday, 05 November 2012 04:02 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved