Crude Oil Prices Settle Down

In a world where environmentalists often worry about the social dependencies on fossil fuels like oil and petroleum products, the news surrounding oil prices is always relevant. Earlier today, news wires were updated with articles surrounding the most recent prices of oil:

NEW YORK, Sept. 14 (UPI) — Last week’s escalating energy prices settled down during the weekend and crude oil fell below $69 per barrel Monday in New York.

Prices began to ease back on the New York Mercantile Exchange Friday after a run-up triggered by a meeting of oil ministers of the Organization of Petroleum Exporting Countries.

Last week, oil ministers decided to leave production quotas unchanged, signaling satisfaction with oil prices that have hovered near $70 per barrel since early August.

Crude oil prices lost 41 cents from Friday, reaching $68.86 per barrel. The price of heating oil rose 0.0106 cents to $1.7422 per gallon. Reformulated gasoline prices lost 0.0147 cents to $1.7433 per gallon. Natural gas prices fell 0.697 cents to $3.297 per million British thermal units.

At the pump, the national average price of unleaded gasoline was $2.572 per gallon Monday, down from Sunday’s $2.573, AAA said.

Copyright 2009 by United Press International

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