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U.S. markets recover from steep losses
NEW YORK, Aug. 30 (UPI) -- Crude oil prices settled slightly during the Monday, dropping under $75 per barrel after a modest recovery last week.
Prices jumped ahead Friday after U.S. Federal Reserve Chairman Ben Bernanke reassured investors the central bank would play a pivotal role in stimulating the economy.
In commodities trading Monday, crude oil prices for October delivery dropped 60 cents from a recent settlement to $74.10 per barrel. Heating oil for October shed 0.0091 cents to $2.0286 per gallon. Reformulated blendstock gasoline lost 0.0068 cents to $1.901 per gallon. Henry Hub natural gas rose 0.027 cents to $3.839 per million British thermal units.
At the pump, the national average price of unleaded gasoline was unchanged Sunday to Monday at $2.678 per gallon, AAA said.
The Bank of Japan said Monday it would increase lending to banks while keeping its bank-to-bank lending rate at 0.1 percent.
Asian stocks were mostly higher. The Nikkei 225 index in Japan added 1.76 percent and the Shanghai composite index in China rose 1.61 percent.
On Wall Street, stocks fell, the Dow Jones industrial average off 1.39 percent and the Standard & Poor's 500 off 1.47 percent.
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