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Article: Crude Oil Prices in New York Plunge
- Article from:
- AP Online
- Article date:
- October 19, 2005
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
10-19-2005
Dateline: NEW YORK
Oil prices plunged Wednesday after the government reported large builds in crude and gasoline inventories.
On the New York Mercantile Exchange, crude oil for November delivery settled down 79 cents to $62.41 a barrel after dropping as low as $61.31 a barrel. The contract expires Thursday.
The December contract fell 93 cents to $61.51 a barrel.
U.S. commercial stocks of crude oil rose 5.6 million barrels to 312 million barrels last week, as imports surged above 9 million barrels a day, the federal Energy Information Administration said in a weekly report.
November gasoline settled down 5.89 cents to $1.6763 a gallon, after the report showed gasoline ...