MARKET WATCH: Crude oil futures reach above $75/bbl at week’s end in New York

The New York Mercantile Exchange December crude oil contract increased $1.61 on Nov. 14, closing at $75.82/bbl. The January 2015 contract increased $1.66 to $75.82/bbl.

The natural gas contract for December gained 4.3¢ to $4.02/MMbtu. The cash gas price at Henry Hub, La., was $4.04/MMbtu, losing 14¢.

Heating oil for December delivery rose 5.4¢ to a rounded $2.42/gal. Reformulated gasoline stock for oxygenate blending for December delivery rose 4.09¢ to a rounded $2.04/gal.

The January and February ICE contracts for Brent crude oil both gained $1.92, closing at $79.41/bbl and 80.05, respectively. The ICE gas oil contract for December fell $7 to $798/tonne.

The average price for OPEC’s basket of 12 benchmark crudes on Nov. 14 was $73.47/bbl, declining $1.68.

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