From the ArcaMax Publishing, Business News Newsletter:
http://www.arcamax.com/news/businessnews/s-348321-331685
NEW YORK (UPI) -- Crude oil prices receded Thursday on the New York
Mercantile Exchange after the U.S. Senate passed a bill to limit
speculative energy purchases.
The bill would give the Commodity Futures Trading Commission stronger
regulatory oversight on electronic trading, The Wall Street Journal
reported.
"This legislation puts real teeth back in the CFTC," said Sen. Maria
Cantwell, D-Wash, said. Cantwell called for even stronger legislation
"so we have no more dark markets."
On the exchange Thursday, crude oil prices fell 44 cents in late
trading to $123.97 per barrel, the price dropping almost a dollar on
the day.
Heating oil prices fell 0.0022 cents to $3.6202 per gallon.
Reformulated blendstock gasoline prices fell 0.0043 cents to $3.1615
per gallon. The price of natural gas fell 0.023 cents to $11.376 per
million British thermal units.
At the pump, the national average price for a gallon of unleaded
regular gasoline climbed to a record $3.776 per gallon, up from
Wednesday's $3.758 per gallon, AAA reported.