Barrels

NEW YORK — Oil settled above $82 yesterday after driving past $83 briefly following a government report that showed US crude oil supplies didn’t grow as much as analysts expected. Benchmark crude for April delivery rose 60 cents to settle at $82.09 on the New York Mercantile Exchange. The Energy Information Administration said crude inventories grew last week by 1.4 million barrels to 343 million barrels. Analysts expected a build of 2.1 million barrels, according to a survey by Platts.

NEW YORK — The price of oil dropped below $90 per barrel Wednesday, the latest milestone in a weekslong decline brought on by uncertainty surrounding economies from Europe to China. Benchmark US crude fell by $1.95 to end at $89.90 per barrel. Oil has tumbled more than 15 percent this month and is at its lowest level since Oct. 21. Analysts say oil is in an extended slump that should lead to cheaper gasoline and other petroleum-based fuels this summer. Gasoline already has dropped by nearly 26 cents per gallon since early April.

Crude oil futures fell below $47 a barrel yesterday as the US government's latest petroleum report showed an unexpected rise in gasoline inventories and a surprising decline in the nation's oil supply. While the drop in crude supplies had placed some upward pressure on prices, traders said momentum was reversed by forecasts calling for warmer weather. The benchmark crude oil contract for March delivery fell 43 cents to settle at $46.69 per barrel on the New York Mercantile Exchange.

Cracker Barrel Old Country Store Inc. said Tuesday that its fiscal third-quarter profit rose 25 percent thanks to higher prices and more customers. The casual dining chain also raised its full-year earnings forecast above analysts' expectations, citing its year-to-date performance. President and CEO Sandra Cochran said in a statement that Cracker Barrel's customer traffic improved for the second straight quarter. Menu prices rose about 2.4 percent on average, while the average check climbed 2.5 percent.

Twenty-eight countries have agreed to release 60 million barrels of crude oil to the market to offset disruptions prompted by Libya’s war and stave off a possible spike in energy prices, the International Energy Agency announced Thursday. The Paris-based agency warned that the release was in response to an “imminent threat of shortfall,’’ according to Executive Director Nobuo Tanaka, which could undermine the nascent global economic recovery. “Today, for the third time in the history of the International Energy Agency, our member countries have decided to release...

NEW YORK -- Oil prices rose above $70 a barrel yesterday, as persistently high fuel demand and concerns about possible supply disruptions in the Middle East and Nigeria offset news of increasing US inventories. The higher finish came after prices had traded lower for most of the day. Today marks the UN deadline for Iran, OPEC's number four producer, to halt its nuclear program. If it doesn't comply, any UN sanctions could provoke the country to retaliate by blocking exports.

VIENNA -- OPEC offered world markets an extra 2 million barrels of oil a day -- its entire spare capacity -- yesterday in an attempt to show that supply fears were unfounded even with traders eyeing another hurricane approaching the Gulf of Mexico. The cartel, which has come under international pressure over near-record prices that followed Hurricane Katrina, said its output ceiling would remain at 28 million barrels a day and stressed that the main obstacle is refining capability, not a shortage of crude.

Kuwait's oil minister says the country aims to boost its crude production capacity to 4 million barrels a day by 2020, up from 3 million barrels now. Oil Minister Hani Hussein made the comments Monday at the start of an energy forum in the Gulf nation, according to a report by state news agency KUNA. Hussein says the International Energy Forum is being held amid "very critical circumstances," citing concerns about Iranian threats to shut the key Strait of Hormuz waterway, the Eurozone crisis and rising oil prices.

Citizens Financial Group, parent of Citizens Bank, said its commercial division has completed a $3.5 million loan to Harpoon Brewery to fund expansion of its brewery in Boston's Seaport District. Harpoon aims to install bottling and labeling machinery that will run at higher speeds than its current equipment, said RBS Citizens, a division of Providence-based Citizens Financial Group. The brewery's production in Boston increased from 60,000 barrels a year in 2008 to 120,000 barrels in 2011.

The ancients made wine in pits carved from rock and stored it in terra cotta jugs. When winemaking migrated to northern Europe, wooden barrels became the container of choice. Less airtight than stoppered clay, barrels let wine interact with oxygen and the wood itself. Stored this way, wine underwent alterations aficionados eventually came to appreciate. Today one can hardly imagine top-flight white Burgundy or elite California chardonnay minus the subtle garnish of toast and vanilla conferred by a new oak barrel.

Oil prices fell to fresh six-month lows below $93 a barrel Wednesday in Asia after a report showed U.S. crude supplies surged more than expected last week. Benchmark oil for June delivery was down $1.22 to $92.76 a barrel, the lowest since November, at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 80 cents to settle at $93.98 in New York on Tuesday. Brent crude for July delivery was down $1.14 at $110.31 per barrel in London.

The local Department of Public Works, working with the Great American Rain Barrel Co. of Hyde Park, is offering recycled rain barrels to residents as part of a conservation and sustainability program. Rain barrels reduce runoff and pollution of nearby water systems. The barrels, available in forest green, earth brown, and Nantucket gray, will sell to residents for $69, 40 percent less than the $119 retail price. Orders can be placed through www.greatamericanrainbarrel.com. Click on "community programs" and "Middleborough.

It's a nice, crisp day to be outside, but gardeners may want to take measures to protect plants against freezing temperatures tonight. The National Weather Service has issued a freeze warning for Massachusetts that will start at midnight and last until 8 a.m. Saturday. "This is going to be more like a fall night than a spring night," said meteorologist Alan Dunham. The freezing temperatures can kill crops and other vegetation. The weather service advises people to harvest or protect vegetation and, if possible, bring potted plants inside.

Residents will be able to dispose of leaves and grass clippings on two curbside collection days, this Saturday and May 12. Place leaves and clippings in brown recyclable bags or loose in marked barrels at the curb by 6:30 a.m. Branches, plants, dirt, rocks, or trash will not be picked up. For more information, visit www.amesburyma.gov. -David Cogger

NEW YORK - US oil supplies may have grown to the highest level in almost 11 months as refineries prepare to expand gasoline output to meet summer demand. Stockpiles advanced 2.65 million barrels, or 0.7 percent, to 371.7 million in the seven days ended April 20, according to the median of 10 analyst estimates. That would bring supplies to the highest level since May. Eight of the respondents forecast an increase, and two said there was a decline. The Energy Department releases its report Wednesday.

Brookline residents can save water and $50 off the regular price of a rain barrel by purchasing them from the town this month. The Department of Public Works is offering barrels from the Great American Rain Barrel Co. for $69 in three colors: green, brown, and gray. The 20-pound barrels are heavy-duty recycled shipping containers with overflow fittings, drain plug, screw-on cover, and a spigot that can be placed to fill a watering can or to connect to a garden hose. The barrels capture runoff that is more beneficial for plants than tap water, and also save on watering costs.

 Citizens Financial Group Inc., which may be best known locally for Citizens Banks, said its commercial division has completed a $3.5 million loan to Harpoon Brewery, which the company plans to use to expand its brewery in Boston's Seaport District. The financing will enable Harpoon to buy and install new bottling and labeling machinery that will run at higher speeds than its current equipment, said RBS Citizens, a division of Providence-based Citizens Financial Group. Since 2008, production at the Harpoon Brewery in Boston has increased from 60,000 barrels a year to...

Citizens Financial Group, parent of Citizens Bank, said its commercial division has completed a $3.5 million loan to Harpoon Brewery to fund expansion of its brewery in Boston's Seaport District. Harpoon aims to install bottling and labeling machinery that will run at higher speeds than its current equipment, said RBS Citizens, a division of Providence-based Citizens Financial Group. The brewery's production in Boston increased from 60,000 barrels a year in 2008 to 120,000 barrels in 2011.