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Snapple co-founder dies at 85
NEW YORK, Sept. 13 (UPI) -- Crude oil prices topped $98 per barrel Thursday, although price movement was subdued after the U.S. Federal Reserve announced a third round of printing money.
The Fed said it would spend $85 billion per month through the end of the year on bonds and mortgage-backed securities, a step known as quantitative easing or printing money.
The program has the effect of diluting the value of the dollar, which makes commodities priced in U.S. currency more appealing overseas.
Price movement has been low-key for the week, but traders Thursday morning revealed a perceptible itch, as West Texas Intermediate crude oil for October delivery jumped early.
By close of trading, WTI crude had turned back down, dropping 24 cents to $98.07 per barrel.
Natural gas shed 1 cent to $3.027 per million British thermal units.
Home heating oil lost 0.49 cents to $3.2064 per gallon. Reformulated blendstock gasoline added 0.19 cents to $2.9641 per gallon.
At the pump, the average price for a gallon of regular unleaded gasoline was $3.869 per gallon, up from Wednesday's $3.858, AAA reported.
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ALGIERS, Algeria, May 24 (UPI) --
Algeria's government is under pressure to ease its foreign energy investment laws after BP warned it may delay important projects in the North African state.
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ARLINGTON, Va., May 24 (UPI) --
BAE Systems has received a two-year contract extension from the U.S. Army Space and Missile Defense Command to support its Future Warfare Center.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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