NEW YORK, July 1 (UPI) — Crude oil prices held near $95 for the second consecutive trading session Friday on the New York Mercantile Exchange.
Oil found support from a strong week on Wall Street, where equities closed higher each day. In Europe, however, Markit Economics reported manufacturing activity, measured by the Purchasing Managers Index, fell from 54.6 in May to 52 in June, just above the break-even point of 50 that divides growth and contraction.
The data took some wind out of oil prices, which had rallied on approval in Athens of an austerity budget that ensured international loans would be available to Greece.
West Texas Intermediate crude closed with a marginal drop, down 16 cents from Thursday at $94.86 per barrel. Home heating oil lost 0.45 cents to $2.92 per gallon. Reformulated blendstock gasoline prices lost 0.76 cents to $2.965 per gallon.
Henry Hub natural gas prices added 1 cent to $4.321 per million British thermal units.
At the retail level, the national average price of unleaded gasoline rose Friday to $3.55 per gallon from Thursday’s $3.541, AAA said.
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