By the OGJ Online Staff
HOUSTON, June 8 -- Energy futures were mixed with mostly minor price movements on international markets Thursday.
The July contract for benchmark US light, sweet crudes gained 3¢ to $27.75/bbl on the New York Mercantile Exchange, while the August contract added 5¢ to $28.14/bbl.
Unleaded gasoline for July delivery inched up 0.81¢ to 88.85¢/gal, while home heating oil for the same month dipped 0.72¢ to 75.92¢/gal on the NYMEX. The July natural gas contract lost 1.1¢ to $3.79/Mcf.
In London, North Sea Brent crude futures fell with follow-through selling after Wednesday's decline on the International Petroleum Exchange.
There has been less concern on the IPE than on the NYMEX that the halting of Iraq's oil exports this week could cause a price recovery, said London brokers.
The IPE was influenced more by technical factors such as Wednesday's close below $29/bbl and a temporary dip below the $28.50/bbl during mid-day trading Thursday, they said.
The July contract for North Sea Brent closed at $28.50 Thursday, down 46¢ for the day, after trading in a range of $28.43-$28.84/bbl on the IPE. The July natural gas contract gained 1.7¢ to the equivalent of $2.98/Mcf.
The average price for the Organization of Petroleum Exporting Countries' basket of seven crudes was down 15¢ to $26.55/bbl Thursday.
