Crude, Heating Oil, Gasoline Slip on Egypt News: Oil Products

- February 11th, 2011

Bloomberg reports that crude oil, heating oil and gasoline declined on the New York Mercantile Exchange after Egyptian President Hosni Mubarak resigned and handed power to the military.

Bloomberg reports that crude oil, heating oil and gasoline declined on the New York Mercantile Exchange after Egyptian President Hosni Mubarak resigned and handed power to the military.

The market news is quoted as saying:

Crude oil for March delivery declined $1.15 to settle at $85.58 a barrel on the Nymex, the lowest closing price since Nov. 30. The spread between Brent crude, the European benchmark, and Nymex-traded West Texas Intermediate rose $1.71 to $15.85, a record high based on settlement prices.

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