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

  • Lake City parent's quarterly earnings up 22%
    Lakeland Financial Corp. today reported record second-quarter earnings of $11.3 million, or 68 cents per diluted common share, a 22 percent increase from the $9.2 million, or 56 cents a share, posted for the same three months of 2013.
  • NCI Fort Wayne workers eligible for federal assistance
    Former employees of NCI Fort Wayne LLC, a subsidiary of Nyloncraft Inc., are certified to receive federal benefits through the Trade Adjustment Assistance program, state officials announced today.
  • Column: Cattle stampede higher
    Cattle futures shot into all-time highs again this week, reaching $1.58 per pound on Thursday.
Advertisement

Oil falls after string of gains

BANGKOK (AP) — The price of oil fell Monday as traders took profits following a recent run-up in prices.

Benchmark oil for May delivery was down 40 cents to $96.87 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 65 cents to close at $97.23 a barrel on Thursday. The market was closed Friday for the holiday.

Oil gained more than $4 in recent sessions, driven by signs of strength in the U.S. economy. Higher prices motivated investors to cash in.

"Oil prices pulled back some this morning primarily due to profit-taking. Prices rose last week based on strong performance in the equities market and also a weaker dollar," said Victor Shum, energy analyst at Purvin & Gertz in Singapore.

In other energy futures trading on the New York Mercantile Exchange:

— Wholesale gasoline fell 1 cent to $3.101 a gallon.

— Heating oil was down 1.2 cents to $3.035 a gallon.

— Natural gas fell 3.7 cents to $3.987 per 1,000 cubic feet.

Advertisement