MARKET WATCH: Oil price continues decline

The September contract for benchmark US light, sweet crudes fell 93¢ to $104.37/bbl Aug. 7 on the New York Mercantile Exchange. The October contract dropped 85¢ to $103.91/bbl.

Heating oil for September delivery lost 4.41¢ to $2.96/gal on NYMEX. Reformulated stock for oxygenate blending for the same month declined 4.4¢ to $2.87/gal.

The September natural gas contract declined 7¢ to close at a rounded $3.25/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., lost about 6¢ to $3.30/MMbtu.

In London, the September IPE contract for North Sea Brent declined 74¢ to $107.44/bbl. Gas oil for August was down $3.25 to $906/tonne.

The secretariat for the Organization of Petroleum Exporting Countries reported Aug. 8 that it will next report the basket price of 12 benchmark crudes on Aug. 12. OPEC’s basket price stood at $105.56/bbl on Aug. 6.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...