Market watch: Energy futures prices mixed in directionless trading

Energy futures prices were mixed in trading Wednesday on the New York Mercantile Exchange.

May 23, 2002

By OGJ editors

HOUSTON, May 23 -- Energy futures prices were mixed in trading Wednesday on the New York Mercantile Exchange.

The new near-month July contract for benchmark US sweet, light crudes dipped 6¢ to $26.37/bbl. The August contract slipped by 4¢ to that same closing price, $26.37/bbl. However, both positions advanced in after-hours electronic trading to $26.63/bbl and $26.55/bbl, respectively.

During the regular NYMEX trading session Wednesday, unleaded gasoline for July delivery jumped up 1.24¢ to 79.68¢/gal. Heating oil for the same month inched up 0.18¢ to 66.95¢/gal. The July natural gas contract gained 6.4¢ to $3.46/Mcf

In London, the July contract for North Sea Brent lost 10¢ to $25.50/bbl on the International Petroleum Exchange. The June natural gas contract also declined by 0.4¢ to the equivalent of $1.73/Mcf on the IPE.

The average price for the Organization of Petroleum Exporting Countries' basket of seven benchmark crudes increased 10¢ to $24.27/bbl.