MARKET WATCH: Oil futures price up; spot gas price continues to climb

The New York Mercantile Exchange March crude contract gained 46¢ on Feb. 6, closing at $97.84/bbl. The April contract added 56¢ to settle at $97.32/bbl.

Heating oil for March delivery remained virtually unchanged at a rounded $3/gal. Reformulated gasoline stock for oxygenate blending for March delivery increased 4.17¢ to a rounded $2.68/gal.

The March natural gas contract on NYMEX edged down about 10¢ to a rounded $4.93/MMbtu. On the US spot market, the gas price at Henry Hub, La. was $7.60/MMbtu, adding 15¢.

In London, the March and April ICE contracts for Brent crude delivery were up 94¢ each, closing at $107.19/bbl and 106.60/bbl, respectively. The ICE gas oil contract for February rose $7.25 to $906.25/tonne.

The Organizational of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $103.34/bbl on Feb. 6, climbing 71¢.

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