MARKET WATCH: Crude oil futures sustain $100/bbl price level

Crude oil futures prices on the New York Mercantile Exchange sustained levels above $100/bbl during trading on Mar. 27 after breaching that threshold earlier in the week (OGJ Online, Mar. 27, 2014).

The NYMEX May crude contract climbed $1.02 on Mar. 27, closing at $101.28/bbl. The June contract gained $1 to settle at $100.53/bbl.

The April natural gas contract was up 18.2¢ to a rounded $4.58/MMbtu. On the cash gas market, the Henry Hub price for Mar. 27 was unavailable.

Heating oil for April delivery rose 2.83¢ to a rounded $2.95/gal. Reformulated gasoline stock for oxygenate blending for April delivery increased 3.37¢ to a rounded $2.94/gal.

In London, the May ICE contract for Brent crude delivery jumped 80¢, closing at $107.83/bbl. The June contract also rose 80¢ to $107.72/bbl. The ICE gas oil contract for April increased $5.75 to $899/tonne.

The Organization of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $103.79/bbl on Mar. 27, increasing 17¢.

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