May 18, 2013

Save Email Print Bookmark and Share
Posted: Tue 8:59 AM, Nov 27, 2012
A A
Reporter: Associated Press Email

Oil Prices Lower

Oil prices are lower as traders remain unsure whether positive U.S. economic news signals an increase in demand for fuel.

The lower oil prices Tuesday matched a slight decline in U.S. stocks markets.

Traders were looking past news that might have been expected to push oil prices higher. U.S. holiday spending and consumer confidence both rose. And negotiations over the next installment on Greece's bailout proved successful.

However, some analysts warned that it's still not clear that demand for oil is rising.

Crude oil is down 15 cents to $87.59 in morning trading on the New York Mercantile Exchange.

AAA says gasoline prices at the pump fell a fraction of a penny to $3.419 per gallon compared to Monday's price.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Next Story >

US Business News

  • U.S. Opens Door to More Gas Exports
    The Obama administration cleared the way for broader natural-gas exports by approving a $10 billion facility in Texas, a milestone in the U.S. transition into a major supplier of energy for world markets.
  • J.P. Morgan's Dimon Makes His Case
    J.P. Morgan Chief Executive and Chairman James Dimon is making the case for continuity in the final days before a potentially defining vote on his future.
  • GM Shares Roar Back to Old Levels
    General Motors shares eclipsed their $33 IPO price, fueled in part by enthusiasm over the company's new vehicles.
  • Priming the Pump for Natural-Gas Cars
    A natural-gas trade group is planning a campaign to show compressed natural gas can be an effective fuel for passenger cars to encourage wider use of the fuel in transportation.
  • Penney Plans Bangladesh Audits
    J.C. Penney plans to beef up its audits of factories in Bangladesh by requiring them for the first time to undergo structural and engineering inspections.
  • DirecTV Considers Hulu Bid
    DirecTV, the second largest U.S. pay-TV provider, is weighing a potential bid for Hulu, the latest company to show interest in the six-year-old video site.
  • Bloomberg Taps Palmisano for Review
    Bloomberg appointed former IBM chief Samuel Palmisano to review the company's compliance measures, in response to concerns about subscriber information that had been available to Bloomberg journalists.
  • Judge Deals Setback to PokerStars
    The online poker giant PokerStars was dealt a setback in its quest to enter the U.S.'s burgeoning regulated online gambling markets, when a New Jersey state judge said the Atlantic City casino that PokerStars planned to buy could be put back on the market.
  • FTC Clears Tesoro Purchase of BP Refinery
    The Federal Trade Commission will allow Tesoro to go through with its plans to buy a BP refinery in Southern California, bringing the two companies one step closer to sealing the deal sometime this quarter.
  • Starbucks Sets Sights on Vietnam
    Starbucks has penetrated scores of markets over the years, but may face a challenge in Vietnam's deep-rooted coffee culture.