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Beef recall announced over E. coli fears
NEW YORK, Dec. 5 (UPI) -- Crude oil prices dipped under $88 a barrel on the New York Mercantile Exchange Wednesday despite a larger-than-expected drawdown in U.S. crude oil inventories.
Traders expected a draw of less than 1 million barrels, but the Energy Information Administration reported a stockpile decline of 2.4 million barrels to 371.8 million barrels in the week.
Economic data released Wednesday showed U.S. factory orders up slightly in November and a gain of 118,000 private sector jobs gained in the month.
In New York, the price of West Texas Intermediate crude oil eased back, dropping 78 cents to $87.82 per barrel. Home heating oil added 0.23 cents in late trading to reach $2.993 a gallon, while reformulated blendstock gasoline gained 0.22 cents to $2.64 a gallon. Henry Hub natural gas gained 0.3 cents to $3.703 per million British thermal units.
At the pump, AAA reported a national average price for regular unleaded gasoline at $3.38 per gallon, down a tenth of a cent from Tuesday's $3.381.
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| Additional Business News Stories | |
ERBIL, Iraq, June 19 (UPI) --
Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
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RIYADH, Saudi Arabia, June 19 (UPI) --
Britain's BAE Systems, Europe's biggest defense company, reportedly expects to wrap up a price deal with Saudi Arabia for 72 Eurofighter Typhoon combat jets after two years of tortuous negotiations.
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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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