News Column

Crude Slips To Monthly Low, Natural Gas Plummets

July 7, 2014

OTTAWA (Alliance News) - Crude oil futures tumbled to their lowest in a month Monday, and another rout dropped natural gas to levels not seen since January.

Crude for August delivery fell 53 cents, or 0.5%, to settle at USD103.53 a barrel on the New York Mercantile Exchange. That's the lowest settlement since June 6.

Prices have slid sharply from a week ago, thanks in part to hopes that sectarian fighting in Iraq will spare strategic oil fields.

Expectations that Libyan oil supplies have als0 been secured further weighed on oil.

August natural gas declined by 18 cents, or 4.1%, to end at USD4.225 per million British thermal units. Analysts point to rising US stockpiles.

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Source: Alliance News

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