West Texas Intermediate oil prices rose while Henry Hub natural gas prices declined in mixed futures markets Sept. 23. The day marked the carry-out date of the first US-led coalition airstrikes inside Syria. US President Barack Obama announced the plans 2 weeks ago to degrade and destroy the terrorist group known as the Islamic State, or ISIS. “The new fighting added caution to the markets,” noted analysts with Raymond James & Associates Inc.
The natural gas contract for October fell 3.4¢ to a rounded $3.82/MMbtu. On the US cash market, gas at Henry Hub, La., was $3.89/MMbtu, gaining 2¢.
Heating oil for October delivery edged down less than a penny to a rounded $2.68/gal. Reformulated gasoline stock for oxygenate blending for October increased 4.4¢ to settle at a rounded $2.63/gal.
The November ICE contract for Brent crude delivery dropped 12¢ to $96.85/bbl. The December contract also dropped 12¢, settling at $97.58/bbl. The ICE gas oil contract for October declined $3.50 to $811.50/tonne.
The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes on Sept. 23 was $94.31/bbl, dropping 6¢.