Market watch: NYMEX prices mostly unchanged
Oil and products prices on the New York Mercantile Exchange Friday closed more or less on track with Thursday's close. In traders' minds, a bearish American Petroleum Institute oil stocks report battled with worries about another proposed Organization of Petroleum Exporting Countries output cut.
By the OGJ Online Staff
HOUSTON, Apr. 2�Oil and products prices on the New York Mercantile Exchange Friday closed more or less on track with Thursday's close.
In traders' minds, a bearish American Petroleum Institute oil stocks report battled with worries about another proposed Organization of Petroleum Exporting Countries output cut.
The May contract for light, sweet crude fell 3� to $26.29/bbl. The April contract rose 9� to $26.57.
The April contract for No. 2 heating oil fell 2.12� to 75.67�/gal. The May contract fell 0.05� to 70.42�/gal.
Gasoline rose 0.16� to settle at 92.08� for April delivery, and rose 0.41� to close at 91.76�/gal for May delivery.
Natural gas bucked the trend. The May contract rose 24.9� to $5.025/Mcf, while the June contract rose 25.5� to settle at $5.072/Mcf.
In London on the International Petroleum Exchange, the May contract for Brent crude rose 24� to $24.74/bbl. The June contract rose 18� to $24.92/bbl.
Also on the IPE, the May natural gas contract declined 5� to the equivalent of $3.06/Mcf.
