{{The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world’s two largest economies, and a speech by the Federal Reserve chief.}}<\/p>\n
Benchmark crude for June delivery was down 68 cents to $95.34 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents to close at $96.02 a barrel on Friday.<\/p>\n
Later in the week, the U.S. government will release home sales and durable goods orders for April and HSBC will release its monthly survey on China’s manufacturing growth.<\/p>\n
Analysts are also awaiting testimony Wednesday from Ben Bernanke, who heads the U.S. central bank. <\/p>\n
Of special interest are any possible hints that the Fed might be preparing to scale back its super-loose monetary policy because recent data has pointed toward a sustained economic recovery.<\/p>\n
“Markets will be watching closely for any signs of what the Fed’s next move will be,” said analysts at DBS Bank Ltd. in Singapore in a commentary.<\/p>\n
Brent crude, a benchmark for many international oil varieties, fell 39 cents to $104.25 a barrel on the ICE Futures exchange in London.<\/p>\n
In other energy futures trading on Nymex:<\/p>\n
\u2014 Wholesale gasoline fell 0.4 cent to $2.888 a gallon.<\/p>\n
\u2014 Heating oil fell 1 cent to $2.921 a gallon.<\/p>\n
\u2014 Natural gas gained 9.7 cents to $4.152 per 1,000 cubic feet.<\/p>\n
{AP}<\/p>\n","protected":false},"excerpt":{"rendered":"
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