Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Crude oil rises Monday

|
|
 
  
Published: Jan. 5, 2009 at 5:47 PM
Advertisement

NEW YORK, Jan. 5 (UPI) -- Crude oil prices rose Monday on political tensions and an oil production cut, which began in the new year.

Violence in Gaza and a new attack on a pipeline in Nigeria contributed to supply worries, The Wall Street Journal reported. At the same time, a production cut announced in December by the Organization of Petroleum Exporting Countries began to take effect.

Crude oil prices jumped $1.98 to $48.33 per barrel in electronic trading. Heating oil prices on the New York Mercantile Exchange gained 0.0876 cents to $1.5665 per gallon. Reformulated blendstock gasoline rose 0.0628 cents to $1.1758 per gallon. Natural gas prices rose 0.065 cents to $6.097 per million British thermal units.

At the pump, the average price for a gallon of regular unleaded gasoline was $1.672 Monday, up 0.014 cents from Sunday's $1.658 a gallon, AAA said

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
The making of the Oscars The Chicago Auto Show The Tibetan Moniam Festival in China
Additional Business News Stories
1 of 25
Meryl Streep and Colin Firth attend the "BAFTA" ceremony in London
View Caption
fark
Twins in yearlong quarantine. No, they don't want any Doublemint gum
The Marines are apparently doing things we think only happen in Rambo movies
Remember back in the day when you had to walk to school, barefoot, uphill both ways, in the snow?...
Time to load up on beer, milk, bread and beer, north Atlanta is in for massive blizzard with up...
Bill would force teachers to comply with FCC regulations. in related news, Miss Lipshiatz is about...
When you yell "bingo," you better be damn sure you have bingo. Cause if you don't, we will find...