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NYMEX Monday Wrap: Oil drops below $60, gas rises
HOUSTON, November 12, 2018 (PCW) — December NYMEX crude futures settled down $0.26 at $59.93/bbl. Oil has lost $7.66 in 11 straight days of declines. January Brent at the close of the NYMEX decreased $0.01 at $70.16 bbl. The January Brent/WTI spread was widened at $10.08 bbl favoring Brent.
Prompt natural gas futures were up 6.9 cents at $3.788 mmBtu. December NYMEX RBOB futures closed at $1.6367 gal, up 1.53 cpg.
December gasoline differentials were lower versus Friday’s level.
A 4 CBOB 87 regular was lower at 8.00 cpg under the screen.
CBOB 87 was down at 8.00 cpg under the screen.
D4 CBOB 93 premium was lower at 8.40 cpg over the screen.
CBOB 93 was down at 8.40 over the screen.
RBOB was lower at 6.35 cpg under the screen.
The 3-2-1 crack spread in the Gulf Coast was $9.43 bbl, $6.65 /bbl under the screen. – John Troland