Oil Update: Crude Settles on an Up Note

Updated with the most recent settlement price and stock moves.

NEW YORK (TheStreet) -- Oil prices settled in positive territory again following a mix of economic data and earnings reports.

Light, sweet crude for September delivery gained 33 cents to settle at $68.38 on the New York Mercantile Exchange today. Earlier in the day, the futures price nearly touched $69, though it also dipped below $68. On Friday, the contract racked up another 89 cents to settle at $68.05.

Investors looking for any good news this morning regarding the economic doldrums may have clapped at the Commerce Department's most recent housing figures. The agency said new, single-family home sales jumped 11% in June. That marks the largest monthly rise in almost 9 years.

But mixed earnings reports in the early going today likely clouded assessments about an economic recovery.

Most of the major integrated oil stocks were tracking in positive territory in the afternoon. Chevron(CVX Quote), ConocoPhillips(COP Quote) and BP(BP Quote) were each holding on to gains, up 0.5%, 0.6% and 1.3%, respectively.

Shares of Exxon Mobil(XOM Quote), which were slipping earlier in the day, were up 0.5%, or 39 cents, at $72.68 in the afternoon.

On the services side, Schlumberger(SLB Quote) was down 1.5%, or 87 cents, at $56.47. Following it down were Halliburton(HAL Quote) and BJ Services(BJS Quote), which were down 2.3% and 1.7%, respectively, so far.

The NYSE Arca Oil Index was up over 0.6% in the early going.

--Reported by Sung Moss in New York City.