MARKET WATCH: Crude oil futures price closes week higher

The New York Mercantile Exchange September crude oil contract closed the week ended Aug. 15 higher, climbing $1.77 to close at $97.35/bbl. The October contract also gained, rising $1.24 to $95.32/bbl.

The natural gas contract for September, meanwhile, fell 13¢ to a rounded $3.78/MMbtu. On the US cash market, gas at Henry Hub, La., was $3.76/MMbtu, declining 7¢.

Heating oil for September delivery was up 2.85¢ to a rounded $2.85/gal. Reformulated gasoline stock for oxygenate blending for September delivery was up 3.2¢ to a rounded $2.70/gal.

The October ICE contract for Brent crude delivery increased $1.46, closing at $103.53/bbl. The November contract gained $1.42 to $104.14/bbl. The ICE gas oil contract for September held steady at $866.75/tonne.

The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes fell below $100/bbl for the first time since June 26, 2013, dipping $1.08 on Aug. 15 to settle at $99.94/bbl.

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