Market watch: Futures mixed, gasoline rises


By the OGJ Online Staff

HOUSTON, May 1 -- Energy futures prices again settled mixed on Monday on the New York Mercantile Exchange.

The June contract for light, sweet crude, the American benchmark, rose 19¢ to settle at $28.46/bbl. The July contract rose 18¢ to close at $28.86/bbl.

The June contract for natural gas fell 17.2¢ to close at $4.695/Mcf. The July contract kept pace, rising 17¢ to $4.765/Mcf.

In the products sector, the May contract for heating oil fell 1.4¢ to 74.34¢/gal. The May contract for gasoline rose 0.47¢ to $1.297/gal. Gasoline is being watched with particular concern, as recent refinery problems and routine shutdowns are combined with low storage inventories.

In London on the New York Mercantile Exchange, the June contract for North Sea Brent crude rose 10¢ to close at $27.89/bbl. The July contract rose 16¢ to $27.66/bbl.

Also on the IPE, the June natural gas contract settled at the equivalent of $3.26/Mcf, up 1¢.

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