MARKET WATCH: Crude oil futures down in New York, London
The New York Mercantile Exchange June crude oil contract price declined 27¢ on May 9, closing at $99.99/bbl. The July contract dropped 23¢ to settle at $99.31/bbl.
The June natural gas contract lost 4.1¢ to a rounded $4.53/MMbtu. The July contract dropped 4.3¢ to $4.54/MMbtu.
Heating oil for June delivery fell 1.34¢ to a rounded $2.91/gal. Reformulated gasoline stock for oxygenate blending for June delivery edged down less than a penny to a rounded $2.90/gal.
In London, the June ICE contract for Brent crude delivery declined 15¢, closing at $107.89/bbl. The July contract fell 21¢ to settle at $107.28/bbl. The ICE gas oil contract for May increased $3.25 to $906.50/tonne.
The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes on May 9 was $104.46/bbl, up 52¢.