MARKET WATCH: Oil futures prices gain ground after steep fall early in week

Crude oil futures prices continued to gain traction after falling steeply earlier this week (OGJ Online, Aug. 20, 2014).

The New York Mercantile Exchange October crude oil contract increased 51¢ on Aug. 21, closing at $93.96/bbl. The November contract rose 50¢ to $93.38/bbl.

The natural gas contract for September was up 6.6¢ to a rounded $3.89/MMbtu. On the US cash market, gas at Henry Hub, La., stood at $3.87/MMbtu, up 2¢.

Heating oil for September delivery edged up 1.17¢ to a rounded $2.84/gal. Reformulated gasoline stock for oxygenate blending for September delivery increased 3.49¢ to a rounded $2.75/gal.

The October ICE contract for Brent crude delivery gained 35¢ to $102.63/bbl. The November contract rose 41¢ to $103.36/bbl. The ICE gas oil contract for September was up another $1.75 to $859.25/tonne.

The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes was $99.03/bbl on Aug. 21, falling 49¢.

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