Market watch, Oct. 19

Energy futures prices closed higher in trading on the New York Mercantile Exchange Wednesday. American Petroleum Institute data showing lower reserves kept the market on its toes, as did continued worries about problems in the Middle East.


Energy futures prices closed higher in trading on the New York Mercantile Exchange Wednesday.

American Petroleum Institute data showing lower reserves kept the market on its toes, as did continued worries about problems in the Middle East.

The November contract for benchmark light, sweet crude rose 49� to settle at $33.48/bbl on the NYMEX, while the December contract stood at $32.47, up by 5�.

Refined petroleum products also ended firmer, with November home heating oil putting on 0.57� to finish at 96.59�/gal, while unleaded gasoline for the same month improved by 2.13� to rest at 94.21�.

In after-hours electronic access trading in New York, light, sweet crude was fetching $33.62/bbl for the November position and $32.55 for the December contract, both up from the NYMEX close.

Meanwhile, in London Wedesday, North Sea Brent crude oil futures closed slightly lower on the International Petroleum Exchange.

IPE December Brent futures settled at $31.10/bbl, down by 3� from the previous close. Also on the IPE, the November gas contract fell 5� to close at the equivalent of $3.87/Mcf.

The Organization of Petroleum Exporting Countries' basket of seven crudes stood at $30.44/bbl Wednesday, compared with $30.08 the previous day.

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