By OGJ editors
HOUSTON, Apr. 21 -- Crude oil futures prices rose slightly as energy traders concentrated on reported declines in US crude oil and gasoline inventories.
The US Energy Information Administration said Apr. 20 that commercial US stocks of crude declined by 1.8 million bbl to 318.9 million bbl during the week ended Apr. 15. US gasoline inventories declined by 1.5 million bbl to 211.6 million bbl during the same period.
Stocks of distillate fuel held steady at 104 million bbl, said EIA officials.
Energy prices
The May contract for benchmark US light, sweet crude increased by 15¢ to $52.44/bbl Apr. 20 on the New York Mercantile Exchange. The June position climbed by 46¢ to $54.03/bbl.
On the US spot market, West Texas Intermediate at Cushing, Okla., gained 15¢ to $52.45/gal. Gasoline for May delivery increased by 1.12¢ to $1.5813/gal on NYMEX. Heating oil for the same month rose by 1.57¢ to $1.5087/gal.
The May natural gas contract edged upward by 0.012¢ to $7.057/MMbtu on NYMEX.
In London, the June contract for North Sea Brent crude rose 84¢ to $53.78/bbl on the International Petroleum Exchange.
The average price for the Organization of Petroleum Exporting Countries' basket of seven benchmark crudes increased by $1.31 to $49.02/bbl on Apr. 20.
