Oil up slightly as US supply data awaited

AP News
Posted: Jun 03, 2014 4:07 PM

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.