Singapore, 10 November (Argus) — Nymex crude futures fell in today's after-hours trade as Hurricane Ida weakened to a tropical storm, easing concerns about shut-in output on the US Gulf coast.
At 08:01 GMT the front-month Nymex December WTI crude contract was at $78.72/bl, falling by 71¢/bl from its close yesterday when the contract ended $2/bl higher.
The front-month Ice December Brent crude contract fell by 69¢/bl to $77.08/bl.
Nymex December heating oil fell by 2.27¢/USG to $2.04/USG, while Nymex December RBOB gasoline fell by 1.88¢/USG to $1.9630/USG.
Oil prices rose yesterday as the market feared that Ida may seriously disrupt US production. BP, Chevron and Marathon said yesterday they were shutting in US Gulf of Mexico production as Ida moved north toward the US coast. But some producers are now thought preparing to resume production with the storm weakening.
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