Crude Oil Prices Edge Higher

Light, sweet crude oil futures rallied slightly Tuesday, but Brent contracts continued dropping and the rest of the energy complex was having a mixed session.

As the day wound down at the New York Mercantile Exchange, West Texas crude was up 95 cents at $88.76 a barrel. Brent, however, was dropping $7.15 to $83.10.

Heating oil was up 1 cent at $2.48 a gallon, while reformulated gasoline was off 3 cents to $2.02 a gallon. Natural gas was losing 4 cents at $6.80 per million British thermal units.

Turning to stocks, Exxon Mobil ( XOM) was up 2.5%, and Chevron ( CVX) was slipping 0.4%. ConocoPhillips ( COP) edged down 0.2%.

Refiners Tesoro ( TSO) and Valero ( VLO) gave back 5% and 2%, respectively. The U.S. Oil ( USO) ETF, which tracks crude prices, ticked up 0.5%.

Elsewhere in commodities, gold was up $1 to $883 an ounce, and silver was adding 4 cents to $11.42 an ounce.

This article was written by a staff member of TheStreet.com.

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