MARKET WATCH: Crude oil futures price down, but stays above $100/bbl benchmark
The New York Mercantile Exchange June crude oil contract price fell 51¢ on May 8, closing at $100.26/bbl. The July contract declined 42¢ to settle at $99.54/bbl.
The June natural gas contract decreased 16.8¢ to a rounded $4.57/MMbtu. The July contract dropped 17.1¢ to a rounded $4.58/MMbtu.
Heating oil for June delivery lost less than a penny to a rounded $2.92/gal. Reformulated gasoline stock for oxygenate blending for June delivery relinquished 1.32¢ to a rounded $2.91/gal.
In London, the June ICE contract for Brent crude delivery declined 9¢, closing at $108.04/bbl. The July contract dropped 12¢ to settle at $107.49/bbl. The ICE gas oil contract for May was up $1.25 to $903.25/tonne.
The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes on May 8 was $103.94/bbl, gaining 25¢.