A couple of interesting tid bits from the world of business today, a few quick note articles which proclaim that the price of oil is dropping.
One which suggested that it has dropped three dollars a barrel, the other only a mere two dollars, either way however, the price isn't going up, it's apparently going down!
From the digital pages of the Business Week website, Monday's glad tidings of declining prices, which came out on the same day that Petro Can raised the price of gas three cents a litre at the local station to 111.9. They were the only local station on Monday that did.
Not sure if they stock the magazine on the magazine racks at Hays Cove. But if not, can somebody get Petro Can a subscription, Quick!
NEW YORK (AP) -- Wall Street ended an erratic session essentially flat Monday as investors grew anxious about upcoming first-quarter earnings and the possibility that interest rates won't be declining anytime soon. A $2 drop in oil prices lent support to the major indexes.
One which suggested that it has dropped three dollars a barrel, the other only a mere two dollars, either way however, the price isn't going up, it's apparently going down!
From the digital pages of the Business Week website, Monday's glad tidings of declining prices, which came out on the same day that Petro Can raised the price of gas three cents a litre at the local station to 111.9. They were the only local station on Monday that did.
Not sure if they stock the magazine on the magazine racks at Hays Cove. But if not, can somebody get Petro Can a subscription, Quick!
NEW YORK (AP) -- Wall Street ended an erratic session essentially flat Monday as investors grew anxious about upcoming first-quarter earnings and the possibility that interest rates won't be declining anytime soon. A $2 drop in oil prices lent support to the major indexes.
With the market closed for Good Friday, traders had their first opportunity to react to Labor Department data that showed stronger-than-expected job growth in March. The numbers indicated the economy might be in better shape than previously thought and helped offset concerns about a continued slowdown in the housing market.
NEW YORK (AP) -- The price of crude oil fell nearly $3 and settled below $62 a barrel Monday on a supply glut at a key North American delivery point as geopolitical tensions loomed.
An oversupply at the storage hub in Cushing, Okla., while localized, had a disproportionate effect on prices, said Citigroup Global Markets energy analyst Tim Evans.
Because the hub serves as a delivery point for oil, the facility is the "Achilles heel" for the petroleum market, he said. As it nears capacity, dealers have no place to store more oil should they want to take advantage of low prices on the May futures contract, which expires April 20, Evans said.
Light, sweet crude for May delivery fell $2.77 to settle at $61.51 a barrel in electronic trading on the New York Mercantile Exchange.
Brent crude for May fell $1.65 to settle at $66.59 a barrel in electronic trading on London's ICE Futures Exchange.
However, Iran's claim Monday that it has begun enriching uranium on an industrial scale did spark some selling, said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
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