Crude-oil prices gained on Friday, regaining some of their steam lost after a lower reading of April consumer sentiment, while natural-gas futures remained lower.
Oil prices climbed above $86 Friday as the government reported the economy expanded in the first quarter and growing concern that an oil spill in the Gulf of Mexico will affect supply.
The oil spill threatening Gulf of Mexico ecosystems is unlikely to have an effect on crude-oil futures, said Rick Mueller, director of oil markets at Energy Security Analysis Inc. in Wakefield, Mass.
Gold rises to a four-month as investors bought it as hedge against still-brewing currency concerns and as a riskier investment they were more comfortable to take on.
A $100 million facility that will experiment with turning coal into gas could open up a range of new uses for Wyoming coal, a General Electric executive said.
Oil prices inched higher Friday as optimism about the economic recovery and a weaker dollar boosted the appeal of crude.
PAA Natural Gas IPO Climbs after Pricing Above Range The offering from PAA Natural Gas scored on two counts: the IPO priced above its expected range and it traded higher.
PAA Natural Gas Storage LP priced an expanded initial public offering above expectations Thursday night, raising $252 million.
Oil prices inched higher Friday as optimism about the economic recovery and a weaker dollar boosted the appeal of crude.