Oil eases amid petroleum-supply forecasts
by MT Bureau - May 16, 2007 - 0 comments
New York -- New York crude oil prices eased to less than $63 a barrel Wednesday amid forecasts of a rise in U.S. petroleum supplies.
Light, sweet crude for June delivery fell 37 cents to $62.80 in mid-morning trading on the New York Mercantile Exchange.
June natural gas lost 5.4 cents to $7.81 per 1,000 cubic feet. June heating oil lost 0.8 cents to $1.8822 a gallon.
Reformulated gasoline blendstock for oxygen blending edged down 1.49 cents to $2.2867 a gallon.
AAA said Wednesday the average U.S. retail regular unleaded gasoline price was $3.103 a gallon, up 1.6 cents from Tuesday's $3.087 a gallon.
Copyright 2007 by United Press International.
