The dollar appreciated as the price of crude oil in the market has slowed downward on Monday. Benchmark crude for December delivery settled at $78.68 a barrel, a decreased of $1.82 from its previous, on the New York Mercantile Exchange. The US dollar has lost ground and appreciation which made commodities stable at higher ranges. The euro has registered a 14-month high of $1.5061 in overnight trading at New York on Monday afternoon after getting back at $1.4859. The euro was still at $1.5002 late Friday in New York.
In the mean time, regular gasoline has raised its average price for a gallon to $2.671 based on data provided by Wright Express, auto club AAA, and Oil Price Information Service.
Records show that gasoline price has increased by 20 cents a gallon for the past two weeks. This might give additional burden for consumer on their already depleted spending. This increase in oil price will greatly affect retail spending during the holidays as spending will be more on oil spending. It might be a bleak Christmas for everyone as the US is still recovering from economic recession.
According to Nymex trading, November delivery for gasoline has lost a penny for $2.0338 a gallon. Heating oil has registered a decline of 4.21 cents for $2.0335 a gallon. The natural gas for November delivery has gone done by 27.4 cents to remain at $4.516 per 1,000 cubic feet.
In the mean time, regular gasoline has raised its average price for a gallon to $2.671 based on data provided by Wright Express, auto club AAA, and Oil Price Information Service.
Records show that gasoline price has increased by 20 cents a gallon for the past two weeks. This might give additional burden for consumer on their already depleted spending. This increase in oil price will greatly affect retail spending during the holidays as spending will be more on oil spending. It might be a bleak Christmas for everyone as the US is still recovering from economic recession.
According to Nymex trading, November delivery for gasoline has lost a penny for $2.0338 a gallon. Heating oil has registered a decline of 4.21 cents for $2.0335 a gallon. The natural gas for November delivery has gone done by 27.4 cents to remain at $4.516 per 1,000 cubic feet.
Brent crude oil, according to London-based ICE Futures exchange, slid down by $1.66 to stabilize at $77.26 per barrel.
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