Thursday, September 1, 2011

Natural gas rises as power demand returns in East (AP)

Natural gas, a major energy source for power plants, jumped nearly 4 percent Wednesday as power started to come back in the East following widespread outages caused by Hurricane Irene. Oil was slightly lower.

Here's how energy contracts traded Wednesday.

On the New York Mercantile Exchange:

Crude fell 9 cents to finish at $88.81 per barrel;

Gasoline rose 3.48 cents to end at $2.8763 per gallon;

Heating oil was up less than a penny to finish at $3.084 per gallon;

Natural gas rose 14.5 cents, or 3.7 percent, to end the day at $4.054 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose 83 cents to finish at $114.85 per barrel.

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/ap/20110831/ap_on_bi_ge/oil_prices_glance

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