MARKET WATCH: Crude oil futures jump above $95/bbl

The New York Mercantile Exchange January 2014 crude contract jumped $1.59 on Nov. 21 to settle at $95.44/bbl—its highest settlement since Oct. 31. The February contract rose $1.57, settling at $95.69/bbl.

Heating oil for December delivery was increased 5.22¢ to settle at a rounded $3.01/gal on NYMEX. Reformulated gasoline stock for oxygenate blending for December delivery moved up 8.08¢ to a rounded $2.74/gal.

The December natural gas contract on NYMEX added 2.8¢ to settle at a rounded $3.70/MMbtu. On the US spot market, the gas price at Henry Hub, La., was a rounded $3.68/MMbtu, tallying 5.8¢ more than the previous day.

In London, the January 2014 ICE contract for Brent crude oil gained $2.02, settling at $110.08/bbl. The ICE gas oil contract for December gained $12.25 to $923.25/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes was $105.40/bbl on Nov. 21, an 82¢ rise.

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