Thursday, February 16, 2012

Oil prices climb as Iran stops some Europe exports (AP)

NEW YORK ? Oil prices climbed to the highest level in five weeks after Iran said it will cut off some crude exports to Europe in retaliation for a planned embargo later this year. Here's a breakdown of how energy contracts traded on Wednesday:

On the New York Mercantile Exchange:

Benchmark crude rose $1.06 to finish at $101.80 per barrel.

Gasoline rose 2.42 cents to end at $3.0067 per gallon.

Heating oil rose 2.68 cents to finish at $3.1916 per gallon.

Natural gas fell 10.7 cents to end at $2.425 per 1,000 cubic feet.

On the ICE Futures exchange in London:

Brent crude rose $1.58 to finish at $118.93 per barrel.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/ap/20120215/ap_on_bi_ge/oil_prices_glance

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