Oil rises near $63 on supply concerns

New York -- Oil prices rose near $63 a barrel Monday on concerns summer U.S. driving demand may exceed U.S. gasoline supplies

Light, sweet crude for June delivery rose 50 cents to $62.87 in mid-morning trading on the New York Mercantile Exchange.

June natural gas climbed 9.3 cents to $7.992 per 1,000 cubic feet. June heating oil added 1.32 cent to $1.8955 a gallon.

Reformulated gasoline blendstock for oxygen blending rose 0.69 cents to $2.359 a gallon.

AAA said Monday the average U.S. retail regular unleaded gasoline price was $3.073 a gallon, up 0.009 cent from Sunday's $3.064 a gallon.

Copyright 2007 by United Press International.