12:03pm 09/25/05
§
Crude sharply lower in early trade By Anne Stanley
SAN FRANCISCO (MarketWatch) -- Crude-oil futures were sharply lower in a special trading session Sunday morning on the New York Mercantile Exchange, as damage from Hurricane Rita appeared to be less serious than forecasters had feared. In morning trade, November crude was trading at $63.20, down 99 cents. Earlier in the session, the November contract traded as low as $62.85. Heating oil dropped 7.6 cents to $1.8895 per gallon, while unleaded gasoline fell 10.16 cents to $1.984 gallon. Trading on the Nymex electronic Access system began at 10 a.m. Eastern. The IPE and Nymex decided late last week to extend the electronic trading session in an effort to avoid major volatility in the market in the wake of the Category 3 hurricane.
§
Crude sharply lower in early trade By Anne Stanley
SAN FRANCISCO (MarketWatch) -- Crude-oil futures were sharply lower in a special trading session Sunday morning on the New York Mercantile Exchange, as damage from Hurricane Rita appeared to be less serious than forecasters had feared. In morning trade, November crude was trading at $63.20, down 99 cents. Earlier in the session, the November contract traded as low as $62.85. Heating oil dropped 7.6 cents to $1.8895 per gallon, while unleaded gasoline fell 10.16 cents to $1.984 gallon. Trading on the Nymex electronic Access system began at 10 a.m. Eastern. The IPE and Nymex decided late last week to extend the electronic trading session in an effort to avoid major volatility in the market in the wake of the Category 3 hurricane.