Oil Up Slightly As US Supply Data Awaited
The price of oil was little changed Tuesday as traders awaited reports on U.S. supplies of crude and refined products.
Benchmark U.S. oil for July delivery rose 19 cents to $102.66 a barrel on the New York Mercantile Exchange. The Nymex contract fell 24 cents on Monday.
Brent crude, a benchmark for international oils, slipped 1 cent to $108.82 a barrel on the ICE Futures exchange in London.
Fresh information on U.S. supplies for the week ending May 30 is expected to show a decline of 2 million barrels in crude oil stocks and an increase of 2 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
At the gas pump, the average price for a gallon of gasoline was $3.67, up about 5 cents from this time last year.
In other energy futures trading on Nymex:
- Wholesale gasoline was flat at $2.95 a gallon.
- Natural gas rose 2 cents to $4.63 per 1,000 cubic feet.
- Heating oil fell 1 cent to $2.87 a gallon.
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