MARKET WATCH: Oil prices up, but remain below $100/bbl benchmark

Oil futures prices made some gains Oct. 25 on the New York market, but still remained below $100/bbl. Prices for the commodity fell below that benchmark level on Oct. 21 for the first time since July 1.

Oil futures prices made some gains Oct. 25 on the New York market, but still remained below $100/bbl. Prices for the commodity fell below that benchmark level on Oct. 21 for the first time since July 1 (OGJ Online, Oct. 22, 2013).

The New York Mercantile Exchange December crude contract rose 74¢ on Oct. 25, settling at $97.85/bbl. The January 2014 contract gained 71¢ to $97.95/bbl.

Heating oil for December delivery edged up a penny to a rounded $2.91/gal on NYMEX. Reformulated gasoline stock for oxygenate blending for November delivery remained virtually unchanged at a rounded $2.59/gal.

The November natural gas contract climbed 7.8¢ to $3.707/MMbtu on NYMEX. On the US spot market, the gas price at Henry Hub, La., was $3.67/MMbtu, off 5.4¢.

In London, the December ICE contract for Brent crude oil lost 6¢ to settle at $106.93/bbl while the January 2014 contract edged up 2¢ to $106.59/bbl. The November contract for ICE gas oil fell $1.75 to $909.75/tonne.

The Organization of Petroleum Exporting Countries basket of 12 benchmark crudes was down 60¢ to $104.97/bbl on Oct. 25.

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