Tuesday, April 12, 2011

Marathon (MRO) (RDS-A) (PBR) Down as Oil Prices Fall

After oil prices had been steadily rising recently, they pulled back on Monday, pushing down the share prices of giant producers like Marathon Oil (NYSE:MRO), Shell (NYSE:RDS-A) and Petrobras (NYSE:PBR).

On the New York Mercantile Exchange, crude oil was down 3.3 percent or $3.77 to $109.04 a barrel. Reformulated blendstock gasoline prices lost 0.6 cents to $3.1945 a gallon.

According to AAA, the national average price of unleaded gasoline climbed to $3.77 a gallon Monday from Sunday's $3.761.

Petrobras closed Monday at $39.83, falling $0.81, or 1.99 percent. Shell closed at $74.48, down $0.54, or 0.72 percent. Marathon Oil closed at $51.77, dropping $0.99, or 1.88 percent.

No comments: