MARKET WATCH: Oil price continues decline

The September contract for benchmark US light, sweet crudes fell 93¢ to $104.37/bbl Aug. 7 on the New York Mercantile Exchange. The October contract dropped 85¢ to $103.91/bbl.

Heating oil for September delivery lost 4.41¢ to $2.96/gal on NYMEX. Reformulated stock for oxygenate blending for the same month declined 4.4¢ to $2.87/gal.

The September natural gas contract declined 7¢ to close at a rounded $3.25/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., lost about 6¢ to $3.30/MMbtu.

In London, the September IPE contract for North Sea Brent declined 74¢ to $107.44/bbl. Gas oil for August was down $3.25 to $906/tonne.

The secretariat for the Organization of Petroleum Exporting Countries reported Aug. 8 that it will next report the basket price of 12 benchmark crudes on Aug. 12. OPEC’s basket price stood at $105.56/bbl on Aug. 6.

Related Articles

Market watch: Energy futures prices rose slightly Friday

05/06/2002 Crude oil futures prices rose slightly Friday amid lingering uncertainty about a possible disruption of Middle East supplies, although tensions in ...

Gulf of Mexico oil service sector showing signs of an upturn

05/06/2002 The Gulf of Mexico oil service sector is experiencing the signs of an upturn, analysts with Simmons & Co. International, UBS Warburg LLC, and RBC D...

OTC: Industry, national agencies need to work together to make FPSOs work in the gulf

05/06/2002 Over the coming years, the oil and gas industry will have to keep an open line of communication with national agencies such as the US Coast Guard a...

Market watch: Energy futures prices fall as Iraq lifts embargo

05/07/2002 Crude oil futures prices fell Monday after Iraq announced plans to lift a self-imposed export embargo with exports expected to resume by Wednesday.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected