MARKET WATCH: Crude oil markets close week lower in New York, London

Crude oil markets closed out the week ended July 11 lower in both New York and London.

The New York Mercantile Exchange August crude oil contract fell $2.10 on July 11, closing at $100.83/bbl. The September contract also fell $2.10, settling at $100.30/bbl.

The natural gas contract for August gained 2.6¢ to a rounded $4.15/MMbtu. On the US cash market, gas at Henry Hub, La., was $4.09/MMbtu, declining 2¢.

Heating oil for August delivery dropped 3.24¢ to a rounded $2.86/gal. Reformulated gasoline stock for oxygenate blending for August delivery relinquished 4.9¢ to a rounded $2.91/gal.

The August ICE contract for Brent crude delivery dropped $2.01 to $106.66/bbl. The September contract dropped $1.75 to $107.26/bbl. The ICE gas oil contract for August was down $3.25 to $884.25/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes for July 11 was $104.87/bbl, dropping 29¢.

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