MARKET WATCH: Crude oil futures end week higher
The New York Mercantile Exchange December crude oil contract ended the week on Nov. 7 up 74¢, closing at $78.65/bbl. The January 2015 contract rose 73¢ to $78.60/bbl.
The natural gas contract for December edged up just less than a penny to a rounded $4.41/MMbtu. The cash gas price at Henry Hub, La., was $4.01/MMbtu, rising 10¢.
Heating oil for December delivery gained 4¢ to a rounded $2.50/gal. Reformulated gasoline stock for oxygenate blending for December delivery gained about half a penny to a rounded $2.14/gal.
The December ICE contract for Brent crude oil increased 53¢, closing at $83.39/bbl. The January 2015 contract increased 51¢ to $83.97/bbl. The ICE gas oil contract for November jumped $16 to settle at $740.75/tonne.
The average price for OPEC’s basket of 12 benchmark crudes was $78.67/bbl on Nov. 7, gaining 40¢.