Singapore, 16 July (Argus) — Nymex crude futures fell in today's after-hours session, paring back yesterday's gains as the market remained cautious about any economic recovery.
But prices remained above $61/bl, as a better than expected China economic growth rate for the second quarter of 7.9pc and a fall in US weekly crude stocks provided support.
At 08:30 GMT, the front-month August US crude futures contract was at $61.14/bl, lower by 40¢/bl from its close yesterday when the contract ended $2.02/bl higher.
The Nymex August front-month heating oil futures contract in after-hours trade fell by 1.59¢/USG to $1.5662/USG. Nymex August RBOB gasoline prices fell by 1.06¢/USG to $1.6975/USG.
US EIA data yesterday showed a larger than expected decline of 2.8mn bl of crude for the week to 10 July.
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