MARKET WATCH: Oil prices off slightly at week’s end, but still elevated on Russia-Ukraine conflict

Crude oil futures prices declined slightly in trading July 18 but remained elevated for the week on news of continued conflict between Russia and Ukraine.

The New York Mercantile Exchange August crude oil contract fell 6¢ on July 18 closing at $103.13/bbl. The September contract dropped 25¢ to $101.95/bbl.

The natural gas contract for August decreased by less than a penny to a rounded $3.95/MMbtu. On the US cash market, gas at Henry Hub, La., was $3.91/MMbtu, down 12¢.

Heating oil for August delivery declined 1.4¢ to a rounded $2.85/gal. Reformulated gasoline stock for oxygenate blending for August delivery declined 2.14¢ to a rounded $2.86/gal.

The September ICE contract for Brent crude delivery was down 65¢ to $107.24/bbl. The October contract fell 52¢ to $107.48/bbl. The ICE gas oil contract for August added $2.50 to $884/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes for July 18 was $105.54/bbl, up 50¢.

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