Market Commentary and Intraday News

Oil prices up slightly in quiet trading

299 days ago

By The Associated Press

The price of oil is edging higher along with the stock market.

Benchmark crude rose 12 cents to $96.39 in New York. All three major stock indexes rose in late morning trading.

The government reported weaker-than-expected July orders for durable goods such as computers and machinery. Oil often falls after gloomy economic news but then recovers on hopes that government officials or central banks will act to boost economies.

Natural gas prices are up a half-percent to $2.8140 per thousand cubic feet.

Gasoline prices at the pump are up more than a penny to $3.73 per gallon.

Heating oil prices rose a half-penny to $3.1451 per gallon.

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