The front-month crude contract posted a marginal loss after fluctuating within a $2/bbl range Feb. 6 on the New York market, but natural gas increased 0.6% on forecasts of colder weather.

Oil prices rebound Feb. 5, taking back some of the losses from the previous session that was described as “worst day of the year” for crude futures on the New York market.

The North American shale gas and tight oil revolution will reshape global markets, changing economic expectations and rebalancing trade flows, BP PLC said in its BP Energy Outlook 2030.

Oil prices fell Feb. 4 with the front-month crude contract dropping 1.6% in the New York futures market after rising 10% since early December. It was the “worst day of the year” for that market, said Marc Ground at Standard New York Securities Inc., the Standard Bank Group.

US Sen. Lisa Murkowski (R-Alas.) announced a set of policy proposals that she said is designed to begin a national dialogue about energy.

The front-month contract for North Sea Brent crude ended January at a 3-month high of $115.55/bbl and climbed to $116.76/bbl Feb. 1, largely on hopes of a global economic recovery. Oil commodities generally ended the week with higher prices.

Energy markets were mixed Jan. 31 with front-month crude dipping 0.5% from a 4-month high in the previous session while natural gas closed essentially flat in the New York futures market.

With futures markets anticipating a price of Brent crude oil of $110/bbl this year, an easing to $90/bbl appears possible in three unlikely cases, according to Panorama 2013, an annual review by IFP Energy Nouvelles (IFPEN) of Paris.

Oil prices continued to advance Jan. 30, and natural gas prices rebound with a new front-month contract in the New York market among mixed economic indicators.

About one third of the worldwide supply of crude oil costs less than $10/bbl to produce, and nearly 90% costs less than $20/bbl, according to a study arguing that production costs don’t explain recent crude-price increases.

Markets were mixed Jan. 28 with front-month crude posting a moderate gain after a marginal loss in the previous session of the New York futures market.

Oil markets continued to waffle with crude posting a marginal daily loss Jan. 25 but finishing up modestly overall for its seventh consecutive week.

Crude prices rebound, up 0.8% Jan. 24 in the New York market, but the front-month natural gas futures contract fell 3%.

Markets were mixed Jan. 23 with both crude and natural gas down in New York.