Monday, May 7, 2007

Energy Prices Post Declines, Monday, May 07, 2007 2:18:24 PM

Energy prices lost ground on Monday in U.S. trading. Crude oil briefly dipped below $61, but rebounded in the afternoon. Natural gas, heating oil and gasoline also dropped.

Crude oil prices gained slightly in the afternoon but remained down for the session. Light sweet crude oil for June delivery was at $61.34, down 59 cents on the session. Prices got as low as $60.85 at 11:30 a.m. ET. This was the first time since late April it dipped below the $61 mark. Oil has dropped in each of its last six sessions.

Natural gas was down for the session on Monday in U.S. trading. Natural gas for June delivery fell 1.68 cents to $7.77. Natural has reached a three-week high on Friday.

Heating oil fell to a three-week low on Monday in U.S. trading. Heating oil for June delivery was down 2.47 cents to $1.8062. It has fallen in its last six sessions.

RBOB gasoline fell to a weekly low during Monday`s U.S. trading. RBOB gasoline was at $2.1935, down 2.29 cents on the session. It got as low as $2.1483 a little after 11 a.m.
Copyright © 2007 RTTNews.com. All Rights Reserved.

No comments: