Oil slips, but remains about $103

NEW YORK — The price of oil finished with a small loss Monday as traders waited for potentially market-moving news at midweek.

Benchmark crude for August delivery slipped 8 cents to $103.14 on the New York Mercantile Exchange.


Oil was pushed higher last week by worries that turmoil in Egypt could disrupt shipments through the Suez Canal and a report showing robust job growth in the United States in June.

Later this week, the Energy Department releases its weekly report on supplies of crude oil and petroleum products, the Federal Reserve releases minutes of its recent policy meeting, and OPEC issues its monthly update on the oil market.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

A large decline in US supplies, or signs that OPEC decreased output last month could boost prices, analysts say. Additional insight into the Fed’s thinking on monetary policy should also influence trading.

In the United States, the average price for a gallon of gasoline was unchanged at $3.47. That was down 16 cents from a month ago, but 9 cents more expensive than at this time last year. In Massachusetts, the average was $3.48 a gallon, up 3 cents from the previous week’s average, AAA Southern New England said Monday.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of