MARKET WATCH: Oil, gas close up in waffling markets

The September contract for benchmark US light, sweet crudes increased 14¢ to $106.11/bbl Aug. 12 on the New York Mercantile Exchange. The October contract also made gains, up 36¢ to $105.52/bbl.

Heating oil for September delivery gained about 3¢ to settle at a rounded $3.02/gal on NYMEX. Reformulated stock for oxygenate blending for the same month decreased about 1¢ to a rounded $2.90/gal.

The September natural gas contract increased 8¢ to close at $3.31/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., gained 4¢ to $3.36/MMbtu.

In London, the September IPE contract for North Sea Brent rose 75¢ to $108.97/bbl. The August contract for gas oil settled at $903.75/tonne. The new contract for gas oil for September was up $8.75 to $914.25/tonne.

The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes increased 33¢ Aug. 12 to $105.27/bbl.

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