OIL

Oil Steady Friday But Global Oil Benchmark Set for Fourth Straight Quarterly Drop

Oil futures were flat to slightly lower Friday, headed for a monthly gain but another round of quarterly losses as June comes to a close, with crude prices remaining shadowed by worries over the economic outlook.

West Texas Intermediate crude for August delivery was off 14 cents, or 0.2%, at $69.72 a barrel on the New York Mercantile Exchange.

August Brent crude, the global benchmark, was flat at $74.34 a barrel on ICE Futures Europe. September Brent, the most actively traded contract, fell 6 cents, or 0.1%, to $74.45 a barrel.

Back on Nymex, July gasoline fell 0.6% to $2.603 a gallon, while July heating oil rose 1.1% to $2.441 a gallon.

August natural gas dropped 1% to $2.673 per million British thermal units.

Oil futures were headed for monthly gains but WTI was set for a second consecutive quarterly decline -- off 7.7% through Thursday's close -- and Brent was headed for a fourth straight quarterly loss -- down 6.8%.

Source : MarketWatch

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