Oil Prices Rise as Crude Oil and Gasoline Demand Increases
The benchmark U.S. crude oil for January delivery saw a significant increase of $1.89, reaching $71.23 per barrel on Friday. Similarly, Brent crude for February delivery rose by $1.79, reaching $75.84 per barrel.
Gasoline and Heating Oil Prices Experience Gains
In line with the rise in crude oil prices, wholesale gasoline for January delivery also experienced a notable increase of 5 cents, reaching $2.05 per gallon. Additionally, January heating oil rose by 3 cents, reaching $2.58 per gallon.
Natural Gas Prices Decline Slightly
On the other hand, January natural gas prices fell by 1 cent, reaching $2.58 per 1,000 cubic feet.
Gold and Silver Prices Witness a Dip
Gold for February delivery experienced a decline of $31.90, reaching $2,014.50 per ounce. Similarly, silver for March delivery fell by 78 cents, reaching $23.28 per ounce. However, March copper saw a slight increase of 3 cents, reaching $3.83 per pound.
Foreign Exchange Rates
The dollar strengthened against the Japanese yen, rising to 144.98 yen from 143.45 Japanese yen. Conversely, the euro weakened, falling to $1.0758 from $1.0799.
The Epoch Times copyright © 2023. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
