MARKET WATCH: Oil prices up, gas down in mixed markets

The September contract for benchmark US light, sweet crudes jumped $2.57 to $105.97/bbl Aug. 9 on the New York Mercantile Exchange. The October contract also made gains, up $2.29 to $105.16/bbl.

Heating oil for September delivery gained 3.6¢ to settle at a rounded $2.99/gal on NYMEX. Reformulated stock for oxygenate blending for the same month increased 5¢ to a rounded $2.91/gal.

The September natural gas contract decreased 6.7¢ to close at $3.23/MMbtu on NYMEX. On the US spot market, gas at Henry Hub, La., gained 5¢ to $3.32/MMbtu.

In London, the September IPE contract for North Sea Brent rose $1.54 to $108.22/bbl. Gas oil for August was up $7.75 to $903.75/tonne.

The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes increased 47¢ Aug. 9 to $104.94/bbl.

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