MARKET WATCH: Oil futures hover below $78/bbl; natural gas jumps on colder weather

The New York Mercantile Exchange December crude oil contract declined 77¢ on Nov. 6, closing at $77.91/bbl. The January 2015 contract declined 73¢ to $77.87/bbl.

The New York Mercantile Exchange December crude oil contract declined 77¢ on Nov. 6, closing at $77.91/bbl. The January 2015 contract declined 73¢ to $77.87/bbl.

The natural gas contract for December jumped 21¢ to a rounded $4.40/MMbtu. The cash gas price at Henry Hub, La., was $3.91/MMbtu, gaining 11¢.

Heating oil for December delivery rose 2¢ to a rounded $2.46/gal. Reformulated gasoline stock for oxygenate blending for December delivery was up 4.34¢ to a rounded $2.13/gal.

The December ICE contract for Brent crude oil was down 9¢, closing at $82.86/bbl. The January 2015 contract fell 6¢ to $83.46/bbl. The ICE gas oil contract for November lost $4.75, settling at $724.75/tonne.

The average price for OPEC’s basket of 12 benchmark crudes was $78.27/bbl on Nov. 6, up 16¢ from the previous day.

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