Memphis Daily News Chandler Reports Nashville Ledger
» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 36 | NO. 42 | Friday, October 19, 2012




Oil prices fall as pipeline supply concerns ease

The Associated Press

Print | Front Page | Email this story

The price of oil is falling after TransCanada reaffirmed its plans to restart a pipeline this weekend that carries crude from Canada to the Midwest.

Benchmark oil dropped 47 cents Friday to $91.63 per barrel in New York.

TransCanada closed the 2,100-mile Keystone pipeline Wednesday after tests showed possible safety issues. A company spokesman says no leaks have been detected. It plans to restart the pipeline Saturday.

Oil traders largely consider the temporary closure to be a non-issue because U.S. supplies of oil are plentiful. Analysts don't expect any impact on pump prices.

AAA says the national average for gasoline fell 2 cents overnight to $3.715 per gallon. That's nearly 10 cents less than a week ago but still 24 cents more than last year at this time.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0