MARKET WATCH: Oil prices end week lower, while gas prices rise

Crude oil futures prices ended the week lower, but natural gas futures prices continued to climb.

Crude oil futures prices ended the week lower, but natural gas futures prices continued to climb.

The New York Mercantile Exchange March crude contract fell 68¢ on Jan. 24, closing at $96.64/bbl. The April contract dropped 54¢ to settle at $96.22/bbl.

Heating oil for March delivery increased 2.48¢ to a rounded $3.02/gal. Reformulated gasoline stock for oxygenate blending for February delivery edged up less than a cent to a rounded $2.66/gal.

The February natural gas contract on NYMEX leaped 45.2¢ to a rounded $5.18/MMbtu. On the US spot market, the gas price at Henry Hub was a rounded $5.17/MMbtu, declining 18¢.

In London, the March ICE contract for Brent crude delivery climbed 30¢, closing at $107.88/bbl as the April contract rose 27¢ to $107.19/bbl. The ICE gas oil contract for February edged down 75¢ to $921.75/tonne.

The Organizational of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $105.04/bbl on Jan. 24, a loss of $1.07.

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