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Tuesday, October 27, 2009

Oil Rises, Settles at $79.55 a Barrel

FOXBusiness

Crude oil for December delivery gained $0.87 per barrel, or 1.11%, to settle at $79.55 on the New York Mercantile Exchange on Tuesday.

Also on the Nymex, reformulated gasoline for November delivery rose 3.67 cents per gallon, or 1.80%, to settle at $2.0705.

Meanwhile, heating oil and natural gas for November delivery gained 2.16 cents per gallon and 4.4 cents per million BTU’s, respectively. Heating oil settled at $2.0551, while natural gas settled at $4.557.

On the Comex, gold for October delivery dropped $7.40 per troy ounce, or 0.71% to settle at $1034.70, while silver dropped 55.30 cents per troy ounce, or 3.24% to settle at $16.5310.

At the pump, consumers can expect to pay $2.67 per gallon of regular unleaded, up 17 cents from last month’s price of $2.50, according to motorist group AAA’s Daily Fuel Gauge Report.

In London on the ICE Futures exchange, Brent crude for December delivery settled 15 cents higher at $77.41 a barrel.

On the NYSE, Exxon Mobil Corporation (XOM) settled up by 2.29% or $1.68, at $74.91, while competitor Chevron (CVX) settled up at $76.59, a positive change of 1.51%, or $.14.

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