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Oil prices ease on futures markets

Oil prices fell in early trading in Europe today despite expectations that weekly U.S. petroleum inventory figures will show the 10th straight weekly decline in U.S. gasoline stocks, with traders focusing instead on the likelihood that they will also reveal an increase in crude supplies. Increasing U.S. refinery restarts also eased upward pressure on prices, according to the Associated Press.
Light, sweet crude for May delivery fell 37 cents to $62.73 a barrel on the New York Mercantile Exchange by afternoon in Europe. Brent crude for June was down 52 cents at $65.41 on London's ICE futures market.
Gasoline futures slipped 0.01 cents to $2.05 a gallon.

Posted by   at 10:31 AM to Oil | Permalink

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