MARKET WATCH: Front-month crude oil contract closes up, gas down on week

The front-month crude oil contract ended the week higher Mar. 21 while natural gas futures prices edged slightly lower.

The New York Mercantile Exchange May crude oil contract gained 56¢ on Mar. 21, closing at $99.46/bbl, while the June contract increased 60¢ to settle at $98.65/bbl.

The April natural gas contract was down 5.6¢ to a rounded $4.31/MMbtu. On the US spot market, the gas price at Henry Hub was not available.

Heating oil for April delivery was virtually unchanged at a rounded $2.92/gal. Reformulated gasoline stock for oxygenate blending for April delivery edged up 1.24¢ to a rounded $2.91/gal.

In London, the May ICE contract for Brent crude delivery rose 47¢, closing at $106.92/bbl. The June contract gained 42¢ to $106.66/bbl. The ICE gas oil contract for April jumped $11.75 to $900.50/tonne.

The Organization of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $103.30/bbl on Mar. 21, tallying 93¢.

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