MARKET WATCH: Crude oil, gas futures prices down

The New York Mercantile Exchange June crude oil contract price fell 32¢ on May, closing at $99.42/bbl. The July contract lost 36¢ to settle at $98.75/bbl.

The June natural gas contract was down 9.6¢ to a rounded $4.72/MMbtu while the July contract declined 9.3¢ to $4.75.

Heating oil for June delivery decreased 1.41¢ to a rounded $2.91/gal. Reformulated gasoline stock for oxygenate blending for June delivery relinquished 2.56¢ to a rounded $2.94/gal.

In London, the June ICE contract for Brent crude delivery lost 31¢, closing at $107.76/bbl. The July contract decreased 32¢ to settle at $107.21/bbl. The ICE gas oil contract for May fell $3.50 to $899.75/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes was $103.77/bbl on May 1, down 18¢ from Apr. 30.

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