MARKET WATCH: Oil prices slip; natural gas prices up

The September contract for benchmark US light, sweet crudes on the New York Mercantile Exchange decreased 36¢ to $107.10/bbl Aug. 19. The October contract dropped 43¢ to $106.86/bbl. The September NYMEX crude contract is scheduled to expire at the close of trading Aug. 20.

Heating oil for September delivery slipped 1.2¢ to settle at $3.07/gal on NYMEX. Reformulated stock for oxygenate blending for the same month dropped 3.4¢ to settle at $2.93/gal.

The September natural gas contract increased 9.5¢ to close at $3.46/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., gained 11¢ to close at a rounded $3.47/MMbtu.

In London, the October IPE contract for North Sea Brent dropped 50¢ to $109.90/bbl. The September contract for gas oil settled at $942.25/tonne, up a buck.

The Organization of Petroleum Exporting Countries reported its basket of 12 benchmark crudes reached $107.83/bbl on Aug. 19, up just 3¢ from its Aug. 16 closing. No price was reported for Aug. 19.

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