MARKET WATCH: Crude oil futures price up, gas price falls

The New York Mercantile Exchange July crude oil contract price gained 86¢, closing at $103.58/bbl on May 29. The August contract rose 79¢ to $102.78/bbl.

The natural gas contract for July fell 5.6¢ to a rounded $4.56/MMbtu while the August contract declined 5.2¢ to $4.54/MMbtu.

Heating oil for June delivery lost 1.16¢ to a rounded $2.92/gal. Reformulated gasoline blendstock edged up less than a penny to a rounded $3.01/gal.

In London, the July ICE contract for Brent crude delivery increased 16¢, closing at $109.97/bbl. The August contract gained 8¢ to settle at $109.19/bbl. The ICE gas oil contract for August rose $1.75 to $905.25/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes was $106.45 on May 29, rising 10¢ from the previous day.

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