Newspaper article THE JOURNAL RECORD

Crude Oil Futures Prices Rise Due to Labor Unrest in Europe

Newspaper article THE JOURNAL RECORD

Crude Oil Futures Prices Rise Due to Labor Unrest in Europe

Article excerpt

Oil prices rose Tuesday as labor unrest in Europe tightened supplies.

Light sweet crude oil for delivery in June settled at $20.41 per barrel, up 12 cents, at the New York Mercantile Exchange.

Lower-grade sour crude for delivery in June settled at $17.86 per barrel, up 16 cents.

Phillips 66 Co. raised the posted price it will pay for crude oil by 10 cents per barrel. Phillips said it would pay $19.65 for West Texas Intermediate and Oklahoma Sweet.

On the New York Mercantile Exchange, natural gas prices were mostly higher, with contracts for delivery in June settling at $1.409 per 1,000 cubic feet, up 2.6 cents.

Unleaded gasoline for delivery in May settled at 62.57 cents a gallon, up 0.49 cents. Home heating oil for delivery in May settled at 56.12 cents a gallon, up 0.82 cents.

Oil prices were gaining strength from a strike by public workers in Germany, which has halted some mass transportation, prompting Germans to drive more personal automobiles and burn more fuel, said Thomas P. …

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