MARKET WATCH: Oil futures gain on New York, London markets

Oil prices settled higher Nov. 21 as light, sweet crude oil prices on the New York Mercantile Exchange were up over $1.50 for both January and February contracts, and the January Brent contract settled just under $64.00/bbl.

Energy prices

Light, sweet crude oil prices on the New York Mercantile Exchange for January rose $1.57 to $58.58/bbl on Nov. 21 while the February contract rose $1.53 to $58.41/bbl.

The December natural gas price edged up less than 1¢ to a rounded $2.58/MMbtu on Nov. 21.

Ultralow-sulfur diesel for December was up 5¢ to $1.94/gal. The NYMEX reformulated gasoline blendstock for December rose nearly 5¢ to $1.70/gal.

Brent crude for January gained $1.57 to $63.97/bbl. The February contract was up $1.47 to settle at $62.94/bbl.

Gas oil for December was up $5.25 to $579.00/tonne on Nov. 21.  The Organization of Petroleum Exporting Countries’ basket of crudes on Nov. 21 was $63.68/bbl, up $1.46.