MARKET WATCH: Oil prices close down at end of volatile week

The NYMEX November crude contract lost 99¢ on Oct. 11, settling at $102.02/bbl ending a week of volatile trading. The December contract fell 83¢ to $102.06/bbl.

Heating oil for November delivery decreased by 3.5¢ to a rounded $3.03/gal on NYMEX. Reformulated gasoline stock for oxygenate blending for November fell 3¢ to a rounded $2.67/gal.

The November natural gas contract was up 5.3¢ to a rounded $3.78/MMbtu on NYMEX. The December gas contract settled at a rounded $3.93/MMbtu, up 5.2¢. On the US spot market, the gas price at Henry Hub, La., was a rounded $3.73/MMbtu, off 1.2¢.

In London, the November IPE contract for North Sea Brent crude decreased 52¢ to settle at $111.28/bbl. The December contract for Brent lost 51¢ to $110.42/bbl. The new November contract for gas oil slipped $12 to $933.50/tonne.

The Organization of Petroleum Exporting Countries reported its basket of 12 benchmark crudes gained 46¢ on Oct. 11, settling at $108.15/bbl. The OPEC Secretariat reported that it will be closed Oct. 15.

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