Santos Pierce

Member Since: 14th May 2011
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No of Articles: 1
About Me: LONDON - Closes this weekend, oil prices tend to be more stable when compared with the previous trade in which oil prices increased approximately two percent. This is caused by the market makers tend to be cautious of the impact caused by flooding along the Mississippi River this week that could affect the number of refineries in the Southeast region. Most of the refinery area of ??the Gulf countries do not necessarily hope for those affected by the flooding. Some of these refineries has prepared a variety of anticipation in order to anticipate the flood disaster by providing sandbags and prepare equipment and emergency measures to overcome it. Nevertheless, one refinery in Baton Rouge, Long Angeles run by Alon USA Energy Inc., plans to close the refinery if the federal engineer large valve opening this weekend to divert flooding from Baton Rouge and New Orleans. As reported by the site Asociated Press (AP), Saturday (05/14/2011), Tradition Energy analyst Addison Armstrong said the flood could stop nearly 253 million cubic feet per day of natural gas production in Louisiana. Meanwhile, according to analyst Phil Flynn PFGBest, there are fears that crude oil shipments and other commercial traffic on the river can be slowed by high water. Delays in getting gasoline from refiners to wholesale may have contributed to higher pump prices in the Southeast and Midwest. Benchmark crude for June delivery settled at USD99, 65 per barrel, up 68 cents on the New York Mercantile Exchange. In addition, oil has been stable this week, ranging from USD95 to USD104 per barrel. This means that oil prices rose two and a half percent for a week after losing 15 percent last week. Despite last week's oil price decline, vehicle users all over the country pay nearly the same for gasoline, with the national average at $ 3, 982 per gallon, according to AAA, Wright Express and the Oil Price Information Service. Motorists in 15 states and the District of Columbia pay more than $ 4 per gallon. The average price of 17.4 cents more than that a month ago and $ 1, 092 more than a year ago. Meanwhile, based on data from the United States Department of labor (USA), reported that inflation in April rose to its highest level in over two years of husband's dance consumers pay more for gas and food products. There are signs that inflationary pressures may begin to ease as oil prices, corn, wheat and other commodities have declined this month. In other Nymex trading in the contract June heating oil rose 2.85 cents to settle at $ 2 positions, 9422 per gallon, gasoline futures added 1.05 cents to settle at $ 3, 0744 per gallon and natural gas rose 5.5 cents to settle at $ 4, 311 per 1,000 cubic feet.