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U.S. Rig Count Increases As Oil Rally Takes A Breather

U.S. Rig Count Increases As Oil Rally Takes A Breather

Baker Hughes reported on Friday…

Iran Begins Boosting Oil Production

Iran Begins Boosting Oil Production

Iran has started ramping up…

Energy Market Snapshot for April 13 2012

Friday the 13th's purported mojo seemed to have a very minor effect on the New York Mercantile Exchange, with miniscule losses across the board and a few gains.

The NYMEX Crude Future felt a minor dip, losing $0.81 or 0.78% to finish at $102.83 per barrel. The Brent price also saw a tiny loss, dropping $0.18 or 0.15% to finish at $121.58 per barrel. The WTI Cushing price mirrored the NYMEX crude future, dipping $0.81 or 0.78% to finish at $102.83 per barrel.

The NYMEX Heating Oil Future saw a marginal gain, raising by 0.83 cents or 0.26% to finish at 317.46 cents per gallon. The NYMEX RBOB Gasoline Future saw a small dip, losing 1.06 cents or 0.26% to finish at 334.61 cents per gallon.

In natural gas, the NYMEX Henry Hub Future saw no change in price, remaining at $1.98 per million British thermal units. In spite of this, the day still counted 0.10% loss towards the future. The Henry Hub spot price saw a very small drop, losing $0.02 or 1.06% to finish at $1.86 per MMBTU. The New York City Gate spot price saw a similar loss, losing $0.03 or 1.46% to finish at $2.03 per MMBTU.

Mid-Columbian electricity rallied after reaching its lowest point in over a year on Thursday, with the on-peak spot price increasing $2.55 or 20.61% to finish at $14.92 per megawatt hour. Palo Verde saw a marginal loss, dropping $0.12 or 0.56% to finish at $21.13 per MW-h. The Houston ERCOT price also saw a small dip, shedding $0.31 or 1.02% to finish at $30.00 per MW-h.

By. Shea Laverty for Oilprice.com

You can find more of Shea's work by clicking here.

All prices listed are in USD unless otherwise noted.
Data from Bloomberg.



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