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MARKETS LIVE BLOG:

STOCKS HOLD GAINS AS DOW EXTENDS 6-DAY WINNING STREAK

Warner Bros. Discovery 'always looking at opportunities' amid Paramount buyout talks

Oil down slightly ahead of report expected to show small drop crude supplies

The Associated Press
Oil down slightly ahead of report expected to show small drop crude supplies

By The Associated Press

The price of oil fell slightly ahead of the latest report on supplies in the United States.

Benchmark West Texas Intermediate crude for June delivery fell 17 cents to close at US$102.44 a barrel on the New York Mercantile Exchange. The more heavily-traded July contract gained 22 cents to US$102.33.

Brent crude, a benchmark for international oil, rose 32 cents to US$109.69 on the ICE Futures exchange in London.

Investors on Wednesday will be monitoring fresh information on U.S. stockpiles of crude and refined products.

Data for the week ended May 16 is expected to show a decline of 300,000 barrels in crude oil stocks and an increase of 150,000 barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

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In other energy futures trading on the Nymex, wholesale gasoline was flat at US$2.96 a U.S. gallon (3.79 litres), heating oil rose one cent to US$2.95 a gallon and natural gas added eight cents to $4.55 per 1,000 cubic feet.

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