Crude oil prices cooled further Wednesday as the production recovery proceeded in the Gulf Coast, but unleaded gasoline prices rose and traders were keeping a close eye on another storm brewing off Florida.
Benchmark light, sweet crude for front-month October delivery fell 35 cents to $65.61 a barrel by afternoon in Europe on the New York Mercantile Exchange. The contract had closed down $1.67 to $65.96 in New York floor trade. On London’s International Petroleum Exchange, October Brent futures were down 47 cents to $64.20 a barrel.
Unleaded gas rose by almost 1.5 cents to $2.0690 a gallon, and heating oil slipped marginally to $2.0525. Natural gas prices were down by nearly nine cents $11.568 per 1,000 cubic feet.
