Crude oil prices in New York and London jumped again on Mar. 26 after Saudi Arabia and its allies launched airstrikes in Yemen to neutralize Iranian-backed Shiite Houthi rebels (OGJ Online, Mar. 26, 2015).
However, crude prices fell more than $1 in early trading on Mar. 27 as nuclear talks with Iran progressed. An agreement could ease oil sanctions on the nation.
The natural gas contract for April was down 5.1¢ to a rounded $2.67/MMbtu. The Henry Hub, La., gas price was $2.73/MMbtu, edging down a penny.
Heating oil for April delivery was up 5.93¢ to a rounded $1.79/gal. Reformulated gasoline stock for oxygenate blending for April was up 4.52¢ to a rounded $1.88/gal.
The May ICE contract for Brent crude oil gained $2.71 to $59.19/bbl. The June contract increased $2.57 to $60.01/bbl. The ICE gas oil contract for April shot up $21 to $545.50/tonne.
The average price for the Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes on Mar. 26 was $54.55/bbl, jumping $3.72.