U.S. oil steady as OPEC ministers meet

New York -- U.S. oil prices remained within a few cents of even Monday as OPEC ministers met to decide whether to keep output steady or give it a modest boost.

Light, sweet crude for October delivery slipped 3 cents, or 0.04 percent, to $77.46 a barrel in mid-morning trading on the New York Mercantile Exchange.
The 12-nation Organization of the Petroleum Exporting Countries, responsible for about one-third of the world's crude supply, met Tuesday in Austria.

Most analysts said the cartel was almost certain to maintain its current production target, despite speculation Saudi Arabia, OPEC's biggest member, might push for a small output increase.

October natural gas rose 6 cents, or 1 percent, to $5.95 per 1,000 cubic feet.
Heating oil fell 0.46 cents, or 0.21 percent, to $2.167 a gallon.
Reformulated-gasoline blendstock for oxygen blending added 0.44 cents, or 0.22 percent, at $1.983 a gallon.

AAA said the average U.S. retail regular unleaded gasoline price was $2.814 a gallon, down 0.5 cents from Monday's $2.819 a gallon.

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Copyright 2007 by United Press International.