MARKET WATCH: Oil, gas prices fall amid fears of partial US government shutdown

Fears of a partial US government shutdown weighed heavily on New York markets Sept. 27, with crude and natural gas each dropping 1.4%.

The NYMEX November contract for benchmark US light, sweet crudes fell by 16¢ on Sept. 27, settling at $102.87/bbl. The December crude contract dropped 18¢ to settle at $102.34/bbl.

Heating oil for November delivery edged down 1.5¢ to a rounded $2.99/gal on NYMEX. Reformulated gasoline stock for oxygenate blending for October lost 2.9¢ to a rounded $2.68/gal. The November contract decreased by about 2.9¢ to settle at a rounded $2.66/gal.

The November natural gas contract increased by 2.2¢ to a rounded $3.59/MMbtu on NYMEX. On the US spot market, the gas price at Henry Hub, La. was a rounded $3.50/MMbtu, a 3.3¢ decline.

In London, the November IPE contract for North Sea Brent crude lost 58¢ to $108.63/bbl. The October contract for gas oil rose $6.75 to $927.25/tonne while the November contract settled up to $6 to $926/tonne.

The Organization of Petroleum Exporting Countries reported its basket of 12 benchmark crudes climbed 13¢ to $106.47/bbl on Sept. 27.

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