Business | Oil & Gas

Oil prices hover above $66 a barrel

Oil prices hovered above $66 a barrel on Friday in light holiday trading a day after grim unemployment numbers from the US and Europe sent prices tumbling.

  • AP
  • Published: 17:43 July 3, 2009
  • Gulf News

London & New York: Oil prices hovered above $66 a barrel on Friday in light holiday trading a day after grim unemployment numbers from the US and Europe sent prices tumbling.

By mid-afternoon in Europe, benchmark crude for August delivery was down 16 cents to $66.57 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, it fell $2.58, nearly 4 percent, to settle at $66.73.

Trading in the US is closed on Friday for the Independence Day holiday.

In other Nymex trading, gasoline for August delivery was down 0.73 cent to $1.7835 a gallon and heating oil rose 0.44 cent to $1.7060. Natural gas for August delivery rose 6.4 cents to $3.679 per 1,000 cubic feet.

In London, Brent prices slid 27 cents to $66.38 a barrel on the ICE Futures exchange.

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