MARKET WATCH: Crude oil futures price up, gas down in mixed market

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 New York Mercantile Exchange November crude oil contract gained 69¢ on Sept. 23, closing at $91.56/bbl. The December contract was up 57¢ to $90.91/bbl.

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¢.

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