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Oil stabilizes near $106; pump prices fall

Oil price steady around $106; nationwide average for gasoline down to $3.55

Oil stabilizes near $106; pump prices fall

NEW YORK (AP) -- The price of oil stabilized around $106 a barrel Monday.

Benchmark oil for September delivery was up 6 cents to $106.03 a barrel in midday trading on the New York Mercantile Exchange. The contract had jumped $2.57, or 2.5 percent, on Friday, on strong industrial production data from China.

Natural gas futures were on track for the biggest one-day gain since mid-July. Natural gas was up 12 cents to $3.35 per 1,000 cubic feet (28.32 cubic meters).

Brent crude, traded on the ICE Futures exchange in London, rose 51 cents to $107.38 a barrel.


Updated : 2021-07-29 02:25 GMT+08:00