New York Mercantile Exchange, Crude Oil Prices Stagnant 73.38 US Dollar

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Augustus Prices of crude oil, crude oil prices added 2 cents in overnight trading on the New York Mercantile Exchange to $73.38 per barrel amid concerns of a double-dip recession. U.S. stock markets faltered Wednesday, losing early gains despite a drop in first-time unemployment claims. Commodity traders on Friday are likely waiting from word from Wyoming on which direction Federal Reserve monetary policy will take as Fed Chairman Ben Bernanke is to speak at the central bank’s annual retreat.

Heating oil for October added 0.0014 cents to $2.025 per gallon. Reformulated blendstock gasoline also gained 0.0014 cents, reaching $1.87 per gallon. Henry Hub natural gas rose 0.009 cents to $3.852 per million British thermal units.
Crude oil prices climbed Thursday, topping $73 per barrel on the New York Mercantile Exchange despite a rise in U.S. stockpiles. The Energy Information Administration said Wednesday stockpiles of crude oil rose by more than 4 million in the week ending Aug. 20.

Light, sweet crude oil for October delivery reached $73.19, adding 67 cents to a prior settlement. Heating oil for October added 0.0244 cents to $1.995 per gallon. Reformulated blendstock gasoline rose 0.0371 cents to $1.901 per gallon. Henry Hub natural gas shed 0.016 cents to $3.855 per million British thermal units.
At the pump, the national average price of unleaded gasoline fell to $2.688 per gallon.