Crude Tips For Today

Oil started falling after a weekend announcement that inflation in China hit a three-year high in June. China has been raising interest rates in an attempt to control inflation and cool off its economy, but on Saturday the government said consumer prices continued to increase, jumping 6.4% last month.

Benchmark West Texas Intermediate crude fell USD 1.05 to settle at USD 95.15 a barrel Monday on the New York Mercantile Exchange.

Brent crude, which is used to price many international oil varieties, dropped USD 1.09 to settle at USD 117.24 a barrel on the ICE Futures exchange in London.

In other Nymex trading for August contracts, heating oil fell less than a penny to settle at USD 3.0875 per gallon and gasoline futures gave up 2.21 cents to settle at USD 3.0705 per gallon. Natural gas added 7.3 cents to settle at USD 4.277 per 1,000 cubic feet.

News
Oil settles lower on concerns about global demand - 12-Jul-2011 07:06
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ICRA sees favorable demand growth outlook edible oil industry - 11-Jul-2011 14:14
Oil falls over 2% on weak US jobs report - 11-Jul-2011 07:04
Oil price settles to USD 98.67 a barrel - 08-Jul-2011 07:10
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Oil settles little changed, below USD 97 a barrel - 07-Jul-2011 07:12