Oil retreats from USD 80 mark
Oil retreats from USD 80 mark Oil futures declined for the first time in 10 sessions on Friday (September 14) after a rally that lead prices to new highs. Prices saw a back slide as traders wished to book some profits for the week. Meanwhile, natural gas rallied as Tropical Storm Ingrid strengthened in the Atlantic. On Friday, light, sweet crude for October delivery fell 99 cents, to settle at USD 79.10 a barrel on the New York Mercantile Exchange (NYMEX) after rising earlier to USD 80.36, a new intraday record. October gasoline fell 1 cent, to settle at USD 2.0364 a gallon on Friday. In London, November Brent crude fell 90 cents to settle at USD 76.22 a barrel on the ICE Futures exchange. October natural gas futures rose 25 cents, to settle at USD 6.279 per 1,000 cubic feet. In other NYMEX trading, heating oil for October delivery fell 1.12 cents, to settle at USD 2.2078 a gallon. At the pump, gas prices fell 0.7 cents, overnight to a national average of USD 2.801 a gallon
