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Beef recall announced over E. coli fears
NEW YORK, Feb. 27 (UPI) -- The price of crude oil stood pat in New York markets Wednesday, hovering under $93 per barrel.
Oil traders held steady while the dollar dropped and equities soared after U.S. Federal Reserve Chairman Ben Bernanke's testimony Tuesday on Capitol Hill in which he defended the Fed's monetary policy position in an attempt to quell doubts about its asset purchasing program.
An Italian bond auction Wednesday found strong demand, which boosted equity markets.
With all this going on, crude oil lost 1 penny from Tuesday's close, finishing Wednesday's session at $92.78 per barrel on the New York Mercantile Exchange.
Gasoline prices on the exchange dropped 9.08 cents to finish at $3.128 per gallon.
Heating oil shed 4.4 cents to reach $2.9915 per gallon. Natural gas lost 2.5 cents to hit $3.437 per million British thermal units.
At the pump, the national average price for a gallon of regular unleaded gasoline rose from Tuesday's $3.782 per gallon to $3.786, the AAA Daily Fuel Gauge Report said.
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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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