MARKET WATCH: Crude oil prices climb, ending long slide

Crude oil prices in New York and London markets performed an about-face July 10, recovering finally from a long downward slide.

The New York Mercantile Exchange August crude oil contract gained 64¢ on July 10, closing at $102.93/bbl. The September contract increased 65¢ to $102.40/bbl.

The natural gas contract for August declined 5¢ to $4.12/MMbtu. On the US cash market, gas at Henry Hub, La., was $4.11/MMbtu, down 4¢.

Heating oil for August delivery rose 2.2¢ to a rounded $2.89/gal. Reformulated gasoline stock for oxygenate blending for August delivery was nearly 2¢ to a rounded $2.96/gal.

The August ICE contract for Brent crude delivery increased 39¢ to $108.67/bbl. The September contract gained 54¢ to $109.01/bbl. The ICE gas oil contract for July was unchanged at $883/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes for July 10 was $105.16/bbl, dropping 33¢.

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