Oil prices staged a mild recovery Wednesday, a day after hitting a four-week low, but traders say any bigger gains would likely be short-lived. Benchmark oil for August delivery was up 6 cents to $103.14 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.47 Tuesday to finish at $103.08 per barrel, the lowest closing price since July 3. Brent crude, which is traded in London, fell 9 cents to $103.17. In other energy futures trading on Nymex: - Wholesale gasoline fell 0.8 cent to $2.967 a gallon. - Heating oil fell 0.3 cent to $3.006 a gallon. - Natural gas rose 1.5 cents to $3.447 per 1,000 cubic feet.
