Singapore, 2 July (Argus) — Nymex crude futures fell below $69/bl in today's after-hours session on fears that US oil demand is not recovering as quickly as hoped.
At 08:30 GMT, the front-month August US crude futures contract was at $68.35/bl, lower by 96¢/bl from its close yesterday when the contract fell by 58¢/bl.
The Nymex new August front-month heating oil futures contract in after-hours trade fell by 2.09¢/USG to $1.7448/USG. Nymex July RBOB gasoline prices fell by 3.01¢/USG to $1.8289/USG.
Oil prices weakened as US EIA data showed weekly stocks of gasoline and distillates increasing more than expected, seen as a sign of faltering demand despite the Independence Day holiday on 4 July when US gasoline consumption usually rises.
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