New York Mercantile Exchange News
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West Texas Intermediate crude fell, heading for its biggest weekly drop in more than a month, after rising U.S. durable goods orders bolstered concern that the Federal Reserve will scale back stimulus efforts.
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Gasoline fell as equities declined and on speculation that demand will drop after the U.S. Memorial Day Holiday.
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West Texas Intermediate headed for its biggest weekly drop in more than a month amid signs of rising U.S. oil inventories and a global economic slowdown.
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Natural gas futures slid from a three-week high on forecasts of milder weather that would reduce consumption of the fuel by power plants.
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Natural gas futures may climb next week for the third consecutive time on forecasts for hotter weather that signal increased demand for the power-plant fuel, a Bloomberg survey showed.
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West Texas Intermediate crude fell for a fourth day, extending the biggest weekly drop in more than a month, amid signs of rising U.S. fuel supplies and a global economic slowdown.
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Ethanol’s discount to gasoline widened a day after a government report showed production of the biofuel climbed to the highest level in 11 months.
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U.S. Midwest gasoline tumbled for a fifth day, reaching the narrowest premium to New York futures in two weeks, on speculation that demand is weakening as regional shortages ease.
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Spot gasoline in Los Angeles declined against futures for the second straight day after a state report showed stockpiles of the motor fuel jumped last week to the highest level in more than a month.
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Gulf Coast crude oils strengthened on the spot market during the three-day rollover period characterized by below-normal volume and erratic pricing.
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