Market watch, Oct. 5

Energy futures prices again closed mostly down on international markets Wednesday. Oil slid downward due to continuing reaction to the release of oil from the US Strategic Petroleum Reserve. High bidders for all 30 million bbl offered were announced Wednesday. Other futures seemed to catch a mild cold, as well, probably due to reports of higher-than-expected stocks.


Energy futures prices again closed mostly down on international markets Wednesday. Oil slid downward due to continuing reaction to the release of oil from the US Strategic Petroleum Reserve. High bidders for all 30 million bbl offered were announced Wednesday. Other futures seemed to catch a mild cold, as well, probably due to reports of higher-than-expected stocks.

The November contract for US benchmark light, sweet crude slid down 64� to close at $31.43/bbl on the New York Mercantile Exchange, while the December contract fell 61� to $31.24.

Also on the NYMEX, the November contract for natural gas fell 5.8� to $5.290/Mcf; the December contract dropped 5.5� to $5.383/Mcf.

Near-month products prices descended on the NYMEX as well. The November contract for heating oil dropped 1� to settle at 96.34�/gal. Gasoline fell 3.2� to close at 84.85�/gal.

On the International Petroleum Exchange in London, the November contract for North Sea Brent crude oil for November fell 53� to settle at the equivalent of $30.52/bbl. The December contract fell 52� to settle at $30.65.

Also on the IPE, the November natural gas contract closed at the equivalent of $3.64/Mcf, up 15�.

IPE gas oil fell $2.75 to close at $295.50/tonne for October delivery.

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