MARKET WATCH: Oil, gas futures prices end week lower

The New York Mercantile Exchange December crude contract relinquished $1.77 on Nov. 1, settling at $94.61/bbl. The January 2014 contract dropped $1.69 to settle at $94.96/bbl.

Heating oil for December delivery lost about 7¢ to a rounded $2.88/gal on NYMEX. Reformulated gasoline stock for oxygenate blending for December delivery was off about 4¢ to a rounded $2.55/gal.

The December natural gas contract on NYMEX gave up 6.8¢, settling at $3.51/MMbtu. On the US spot market, the gas price at Henry Hub, La., was $3.46/MMbtu, a decrease of 10¢ from Oct. 31.

In London, the December ICE contract for Brent crude oil declined $2.93 to settle at $105.91. The January 2014 contract lost $2.74, settling at $105.89/bbl. The November contract for ICE gas oil dropped $17.50 to $915/tonne.

The Organization of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $105.53/bbl on Nov. 1, falling $1.22 from the previous day.

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