Oil settles higher, gas pump prices lower
By Chris Kahn
NEW YORK (AP) - Gas pump prices fell for the fifth day after flirting with a national average of $4 per gallon last week.
Energy trader Stephen Schork said nobody's confident about their positions after oil prices tumbled last week by the largest percentage in two and a half years. The CME Group, which owns the New York Mercantile Exchange, also raised margin requirements this week, making it more expensive to speculate in energy commodities.
"Everyone's just tightening the reins here" on oil trades, Schork said.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Latest Stories
- Alders Call for Hearing on Delays in Critical Public Safety Technology Procurement
- La Rabida Children’s Advocacy Center Celebrates 40 Years of Healing and Hope for more than 10,000 Local Children Impacted by Abuse and Trauma
- Comedian And Actor Lil Rel Howery Leads Storytime At Nia Family Center
- The Support Group Hosts Lunch With A Leader
- Legislation Aims To Provide Equitable Funding To Public Universities
Latest Podcast
Things That You Should Know That Your Agent Knows...
