Brent crude prices rise; WTI declines in New York

Crude oil prices were higher in late afternoon trade on the Intercontinental Exchange in London on Thursday as geopolitical concerns continued, including worries over the pace of Iran’s uranium enrichment program. Brent crude July contracts added 83 cents to $71.43 per barrel after going as high as $71.80 per barrel earlier in the day.

By mid-afternoon trade on the New York Mercantile Exchange, however, prices for July delivery West Texas Intermediate crude had dropped $1.52 to $64.25 per barrel after reaching $65.80 earlier in the session. June Nymex gasoline had added 5 cents by mid-afternoon, however, to $2.36 per gallon, while Nymex July heating oil dropped 1 cent to $1.93 per gallon. July contracts for Nymex natural gas were also lower, falling 9 cents to $7.85 per million British thermal units.