NYMEX heating oil near session lows in pre-close .
NEW YORK 1996-08-30
NYMEX refined product prices lingered at session lows amid slim volume before the close while crude experienced lackluster buying ahead of the U.S. Labor Day weekend , traders said .
" There was some profit-taking early on , and it 's just sitting there , " a Texas trader said of heating oil 's and gasoline 's losses .
September heating oil stood 1.02 cents lower at 62.65 cents a gallon .
Heat hit a session low of 62.45 shortly before the close .
September gasoline stood 0.87 cent lower at 62.85 cents a gallon .
Friday 's low in September gasoline was 62.75 .
Traders also said players were selling refined products in favor of crude ahead of the front month 's Friday expiry in the refined products .
The October heating oil-to-crude crack spread narrowed to $ 4.22 a barrel from Thursday 's $ 4.58 while the October gasoline-to-crude spread narrowed to $ 3.60 from Thursday 's $ 3.86 a barrel .
October crude stood eight cents higher at $ 22.23 barrel .
Buying interest in crude did not have enough conviction to send it much higher since many players had left early to start the Labor Day holiday weekend , traders said .
NYMEX will be closed Monday due to Labor Day .
-- Harry Milling , New York Energy Desk , +1 212-859-1761