NYMEX crude oil and refined product futures were trading near their morning highs at midday Tuesday. Part of the upside was likely due to NYMEX futures making up some lost ground to Brent crude.
Petroleum futures were modestly lower at midday Tuesday after bouncing off sharper, early morning declines. Ahead of the extended U.S. Memorial Day weekend, there are few signs that gasoline.
U.S. crude oil futures rise due to slower inflation and drop in oil inventories, while natural gas prices climb on lower storage build and increased demand.