MARKET WATCH: Crude oil benchmarks settle lower to start the week

Oil benchmark prices traded lower on Nov. 18 with light, sweet crude oil prices for December declining on the New York market by 67¢ to $57.05/bbl while Brent crude oil prices for January dropped 86¢ to $62.44/bbl in London.

The January contract for light, sweet crude dropped 69¢ to $57.14/bbl. The February Brent contract was down 87¢ to settle at $61.53/bbl.

The December natural gas price dropped 12¢ to a rounded $2.57/MMbtu on Nov. 18.

Ultralow-sulfur diesel for December dropped 4¢ to $1.90/gal. The NYMEX reformulated gasoline blendstock for December was down 1¢ to $1.62/gal.

Gas oil for December dropped $15.50 to $571.75/tonne on Nov. 18. The Organization of Petroleum Exporting Countries’ basket of crudes on Nov. 18 was $63.44/bbl, up 32¢.