Add as a preferred source on GoogleBrent Crude Futures Settle at $108.79 as Morning Gains Reverse
The Oct. 20 settlement was down $0.76, or 0.69%, from the previous day. U.S. regular gasoline fell 4.7 cents in the Oct. 19 survey, while on-highway diesel climbed 9.7 cents.
Brent crude futures settled at $108.79 a barrel Tuesday after trading near $112 earlier in the session. The close reversed the morning advance as U.S. fuel prices showed different week-to-week movements in the latest survey.
The settlement was $0.76 below the previous day's level, a decline of 0.69%. Brent's daily settlement is calculated during a two-minute window from 2:28 to 2:30 p.m. ET (18:28–18:30 UTC). Tuesday's close followed Monday's Brent price decline.
A U.S. weekly fuel survey released Tuesday put regular gasoline at $4.284 per gallon for the week of Oct. 19, down 4.7 cents from the week before. U.S. on-highway diesel averaged $6.276 per gallon, up 9.7 cents from the prior week.
The two fuel prices moved in opposite directions. Crude oil is the largest component of gasoline's pump price, while refining, distribution and taxes also affect what drivers pay. A single day's change in Brent therefore does not translate into an equal change at the pump.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.