The price of oil held steady on Friday on a quiet day for energy markets.
Benchmark U.S. crude for August delivery edged 10 cents lower to close at $105.74 a barrel in New York. Brent crude, a benchmark used to price international oils used my many U.S. refineries, rose 9 cents to close at $113.30 a barrel in London.
The price of both U.S. and international oils have slipped somewhat in recent days since reaching 10-month highs late last week, a sign investors are starting to believe that the violence in Iraq won’t spread to the oil-producing south.
The national average retail price of gasoline held steady at $3.68 per gallon, according to AAA, OPIS, and Wright Express. It’s the highest national average for this time of year since 2008.
In other energy futures trading on the Nymex:
– Wholesale gasoline rose 1.3 cents to close at $3.07 a gallon.
– Natural gas fell 1.1 cents close at $4.39 per 1,000 cubic feet.
– Heating oil fell 1.6 cents to close at $3 a gallon.
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