MARKET WATCH: Crude oil futures price up, natural gas down
The New York Mercantile Exchange March crude contract jumped 87¢ on Jan. 30, closing at $98.23/bbl. The April contract climbed 78¢ to settle at $97.66/bbl.
Heating oil for February delivery was up 3.54¢ to a rounded $3.22/gal. Reformulated gasoline stock for oxygenate blending for February delivery was virtually unchanged at a rounded $2.66/gal.
The March natural gas contract on NYMEX declined 45.4¢ to a rounded $5.01/MMbtu. On the US spot market, the gas price at Henry Hub, La. was a rounded $5.29/MMbtu, rising 8¢.
In London, the March ICE contract for Brent crude delivery was 10¢ higher, closing at $107.95/bbl, and the April contract gained 6¢ to $107.30/bbl. The ICE gas oil contract for February edged up 25¢ to $924/tonne.
The Organizational of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $105.09/bbl on Jan. 30, a 52¢ gain.