Mon, Dec 29, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices have been falling but fracking will limit the decline, says Dan Yergin

Posted on 21 November 2013

When Americans take to the road this Thanksgiving holiday they will be paying about 6% less for gasoline than they paid a year ago. That’s because the price of crude oil has fallen.
Increased oil production due to fracking–the technology that breaks up shale rock buried deep inside the earth to release oil and natural gas reserves–has boosted U.S. oil output, and, in turn, reduced prices. Crude oil is trading near $93 a barrel, a five-month low, and gasoline prices are averaging $3.21 a gallon for regular unleaded, according to AAA. Natural gas is trading at $3.55 per million BTU, a few cents below the year-ago price…………………………………Full Article: Source


 Article link

This post was written by:

VRS - who has written 38584 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031