Crude oil futures kept moving in a bullish rally for third consecutive day on Wednesday as Energy Information Administration reported the decrease of 1.7 million barrels in US inventories for the week ended June 17th, 2011. Traders were also uncertain over the Greece’s debt situation.
Crude oil futures contract for August delivery declined 1.3 percent or $1.24 to $95.41 per barrel on Wednesday at New York Mercantile Exchange. The respective contract touched the day’s high of $95.70 per barrel. Crude oil futures have gained by 1.9 percent in last three trading session.
Gasoline futures contract for July delivery declined 3.2 percent or $0.09 to close at $2.97 per gallon. Heating oil gained 2.3 percent or $0.06 to $2.96 per gallon whereas natural gas futures contract for July delivery dropped 1.6 percent or $0.07 to close at $4.32 per million British thermal units.
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