Crude, Gasoline, Heating Oil Steady, Trading Light: Oil Products
Crude oil, gasoline and heating oil were little changed in lighter-than-average trading on the New York Mercantile Exchange. Aggregate volume of futures contracts at 4:15 p.m. New York time was at least 25 percent below one- year average volumes. Ethanol dipped.
Crude oil for May delivery dropped 20 cents to $105.40 a barrel on the New York Mercantile Exchange. Crude has gained 31 percent in the past year. Volume at 4:15 p.m. was 401,825 contracts, 45 percent below the one-year average.
Gasoline for April delivery fell 0.03 cent to settle at $3.0445 a gallon on the Nymex after touching $3.0617, the highest intraday level since March 7. Gasoline has gained 37 percent in the past year. Volume was 74,517 contracts, 34 percent below the one-year average.
Heating oil for April delivery fell 0.72 cent to settle at $3.0548 a gallon on the Nymex. Heating oil has gained 48 percent in a year. Volume was 82,336 contracts, 27 percent below the one-year average.
Denatured ethanol for April delivery declined 1.1 cents, or 0.4 percent, to $2.504 a gallon on the Chicago Board of Trade. Ethanol has risen 63 percent in the past year.
Refineries and Transport
Exxon Mobil Corp. (XOM) plans to flare gases at its refinery in Baton Rouge, Louisiana, because of routine maintenance, Curt Monte, a spokesman for the Baton Rouge fire department said in a telephone interview.
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