Oil Prices Rebound From Early Pullback - TheStreet

Oil Prices Rebound From Early Pullback

West Texas crude for July delivery was recently trading up $1.16 at $130.16 a barrel. Brent crude was gaining $1.47 at $129.78 a barrel.
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Energy futures were moving higher in an erratic day of trading at the New York Mercantile Exchange, overcoming an earlier step back that for a time had put crude below $127 a barrel.

West Texas crude for July delivery was recently trading up $1.16 at $130.16 a barrel. Brent crude was gaining $1.47 at $129.78 a barrel.

Reformulated gasoline was up 4 cents at $3.42 a gallon. Heating oil edged 3 cents higher to $3.83 a gallon, and near-term natural gas was up 8 cents at $11.88 per million British thermal units.

On a day with no new major data or headlines, energy traders appear to be awaiting Thursday's release of the Energy Department's weekly petroleum report for motivation. The report was delayed a day because Monday was a federal holiday.

Cramer: Get Ready For an Energy Pullback

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Meanwhile, energy stocks were mostly lower. Among integrated stocks,

BP

(BP) - Get Report

was sliding 1.9% to $72.15, while

Chevron

(CVX) - Get Report

was fractionally lower at $99.48.

Exxon Mobil

(XOM) - Get Report

was up 0.2% at $88.96.

In the oil services and drilling space,

Halliburton

(HAL) - Get Report

was 0.6% lower at $47.83,

National Oilwell Varco

(NOV) - Get Report

was down 0.3% at $80.46 and

Transocean

(RIG) - Get Report

was climbing 0.4% to $153.96.

The

U.S. Oil Fund

(USO) - Get Report

, an exchange-traded fund that closely tracks the performance of WTI futures on the Nymex, was recently trading 0.9% higher at $105.16.