A
AALARD
Guest
Crude oil prices rise Monday
NEW YORK, -- Crude oil prices rose during the weekend, adding $1.39 to reach $83.08 per barrel in New York Monday as the dollar weakened.
The Group of 20 finance ministers' summit in South Korea during the weekend ended with an agreement to connect currency rate exchanges to market forces, but the specific formula may be months or years away. Germany insisted U.S. Treasury Secretary Timothy Geithner's suggestion of connecting exchange rates to current account surpluses was not viable, The Wall Street Journal reported Monday.
On the New York Mercantile Exchange, heating oil added 2.75 cents to $2.2966 per gallon. Reformulated blendstock gasoline added 3.1 cents to $2.085 per gallon. Henry Hub natural gas prices lost 3.5 cents to $3.297 per million British thermal units.
The dollar index, a measure of the dollar against six major currencies, dropped 0.79 percent.
At the pump, the national average price of unleaded gasoline fell to $2.813 per gallon Monday from Sunday's $2.817, AAA said.
NEW YORK, -- Crude oil prices rose during the weekend, adding $1.39 to reach $83.08 per barrel in New York Monday as the dollar weakened.
The Group of 20 finance ministers' summit in South Korea during the weekend ended with an agreement to connect currency rate exchanges to market forces, but the specific formula may be months or years away. Germany insisted U.S. Treasury Secretary Timothy Geithner's suggestion of connecting exchange rates to current account surpluses was not viable, The Wall Street Journal reported Monday.
On the New York Mercantile Exchange, heating oil added 2.75 cents to $2.2966 per gallon. Reformulated blendstock gasoline added 3.1 cents to $2.085 per gallon. Henry Hub natural gas prices lost 3.5 cents to $3.297 per million British thermal units.
The dollar index, a measure of the dollar against six major currencies, dropped 0.79 percent.
At the pump, the national average price of unleaded gasoline fell to $2.813 per gallon Monday from Sunday's $2.817, AAA said.
