MARKET WATCH: Oil prices continue downward dip

The September contract for benchmark US light, sweet crudes fell 97¢ to $103.40/bbl Aug. 8 on the New York Mercantile Exchange. The October contract dropped $1.04 to $102.87/bbl.

Heating oil for September delivery lost less than 1¢ to settle practically unchanged at $2.96/gal on NYMEX. Reformulated stock for oxygenate blending for the same month declined 1.3¢ to $2.86/gal.

The September natural gas contract increased 5¢ to close at a rounded $3.30/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., lost about 3¢ to $3.27/MMbtu.

In London, the September IPE contract for North Sea Brent declined 76¢ to $106.68/bbl. Gas oil for August was down $10 to $896/tonne.

The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes decreased 42¢ to $104.47/bbl.

Correcction: It was incorrectly reported Aug. 8 that the OPEC secretariat would not report another basket price before Aug. 12.

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

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...