Oil flat on supply data
The price of oil was nearly unchanged Tuesday as traders waited for the latest data on U.S. supplies.
Benchmark U.S. crude for June delivery rose 2 cents to close at $99.50 a barrel on the New York Mercantile Exchange.
Brent crude, a benchmark for international varieties of oil, fell 66 cents to $107.06 on the ICE Futures exchange in London.
Data for the week ending May 2 is expected to show an increase of 1.3 million barrels in crude oil stocks and a draw of 900,000 barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
The projected increase would bring the nation’s oil supplies above 400 million barrels.
Last week’s data showed crude oil supplies at 399.36 million barrels, the highest on record.