MARKET WATCH: Oil, gas futures prices continue to wane after hitting highs

Oil and natural gas futures prices continued to wane after hitting highs earlier in the week.

The New York Mercantile Exchange August crude oil contract price declined 66¢ on June 26 to close at $105.84/bbl. The September contract lost 61¢ to $105.11/bbl.

The natural gas contract for July fell 15.3¢ to $4.40/MMbtu. On the US cash market, gas at Henry Hub, La., was $4.55/MMbtu, down 2¢.

Heating oil for July delivery relinquished 1.6¢ to a rounded $3.01/gal. Reformulated gasoline stock for oxygenate blending for July delivery fell just less than a penny to a rounded $3.09/gal.

The August ICE contract for Brent crude delivery lost 79¢, closing at $113.21/bbl. The September contract declined 78¢ to $112.73/bbl. The ICE gas oil contract for July decreased $4 to $924.75/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes for June 26 stood at $109.39/bbl, losing 24¢.

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