New York-Oil and product futures settled lower Tuesday as global oil demand remains thin, and supply plentiful. NYMEX July crude settled 39 cents lower at $95.38/b, pulling off of the intraday low of $94.04/b. That narrowed the Brent-WTI spread to $7.58/b, the tightest since May 22. Products were down as well, led by NYMEX July ULSD, which settled 2.63 cents lower at $2.8575/gal. July RBOB, which spent much of the session around 5 cents/gal lower, settled down 2.5 cents at $2.8231/gal.
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