Surf Taiwan News, Browse the World »
Fading economic worries boosted oil prices in 2013
By the Associated Press
Associated Press
2014-01-01 06:01 AM

NEW YORK (AP) -- Oil finished the year with a gain of 7 percent with much of the gain coming this month on signs that an improving U.S. economy is leading to greater demand for gasoline and diesel fuel.

Benchmark oil fell 87 cents on Tuesday to close at $98.42 on the New York Mercantile Exchange.

Natural gas futures closed at $4.23 per thousand cubic feet, down 4 percent, and ended the year with a gain of 88 cents, or 26 percent. Increased use of natural gas used up some of the big domestic surplus of the fuel from a boom in production. Wintry weather helped boost prices in December.

Brent crude, a benchmark used to price international crudes used by many U.S. refiners, fell 41 cents to at $110.80 in London. For the year, Brent fell slightly from its 2012 close of $111.11.

In other energy futures trading Tuesday on Nymex:

-- Wholesale gasoline fell 2 cents to close at $2.79 a gallon.

-- Heating oil was unchanged at $3.08 per gallon. Heating oil finished 2012 at $3.05 per gallon.

HOME |  WORLD |  Politics |  Business |  Sports |  Lifestyle |  TAIWAN |  Technology |  Health |  SUPPLEMENT |  Society |  OPINION
  • Taiwan News  ©  2014 All Rights Reserved.