You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Questions, answers about Detroit's bankruptcy
    DETROIT – A judge on Nov. 7 signed off on Detroit's plan to emerge from bankruptcy, but he didn't specify when that would happen. A specific date is expected to be discussed during a court hearing Monday.
  • Banking industry may alter ethics
    WASHINGTON – The banking industry seems to bring out dishonesty in people, a new study suggests.A team of Swiss economists tested the honesty of bank employees in a lab game that would pay off in cash if they cheated.
  • JetBlue addsbag fees, cutsseat spacing
    JetBlue will add bag fees and squeeze seats a bit closer together as it tries to boost profit.
Advertisement

Oil falls, trading muted on U.S. public holiday

BANGKOK (AP) — Crude prices fell as energy investors kept to the sidelines Monday ahead of a public holiday in the U.S.

Benchmark oil for February delivery was down 41 cents to $95.08 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 7 cents to finish at $95.56 per barrel on the Nymex on Friday.

Ken Hasegawa, energy analyst at Newedge brokerage in Tokyo, said trading was muted ahead of the U.S. holiday and in the absence of major news that might have the potential to move markets.

Lingering concerns about the U.S. economy also weighed on crude prices, with lawmakers wrangling over spending cuts and the nation's debt ceiling, which limits the amount of debt that U.S. government can take on.

Even if Congress raises the debt ceiling, Republican lawmakers will likely demand deep spending cuts, which in the short term could slow the global economy.

Brent crude, used to price international varieties of oil, fell 30 cents to $111.63 per barrel on the ICE Futures exchange in London.

In other energy futures trading on the Nymex:

— Natural gas was up 9 cents to $3.584 per 1,000 cubic feet.

— Wholesale gasoline rose 2.1 cents to $2.803 a gallon.

— Heating oil rose 2 cents to $3.035 a gallon.

Advertisement