MARKET WATCH: Oil, gas prices close lower on the week

The New York Mercantile Exchange December crude contract lost 39¢ on Oct. 31 to settle at $96.38/bbl. The January 2014 contract fell by 41¢, settling at $96.65/bbl.

Heating oil for November delivery edged down a little more than a penny to a rounded $2.97/gal on NYMEX. Reformulated gasoline stock for oxygenate blending for November delivery declined about 2¢ to a rounded $2.63/gal.

The December natural gas contract on NYMEX dropped about 4¢ to $3.58/MMbtu. On the US spot market, the gas price at Henry Hub, La., was a rounded $3.56/MMbtu, down half a cent.

In London, the December ICE contract for Brent crude oil decreased by $1.02, settling at $108.84 while the January 2014 contract was off 85¢ to $108.63/bbl. The November contract for ICE gas oil lost $4.75 to $932.50/tonne.

The Organization of Petroleum Exporting Countries’ daily basket price was unavailable Nov. 1 because its Secretariat office is closed.

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