MARKET WATCH: NYMEX, Brent crude oil prices up for a third trading day

Crude oil futures prices continued their ascent in New York and London Nov. 5 as optimism for movement in the US-China trade negotiations continues.

The countries were seeking a locale for signing a partial deal, US President Donald Trump said, which media outlets are reporting could occur later this month. Additionally, there has been talk about rolling back a portion of US tariffs on Chinese imports.

The light, sweet crude contract for December on the New York Mercantile Exchange was up 69¢ to $57.23/bbl on Nov. 5. The January contract also rose, up 69¢ to settle at $57.29/bbl.

The NYMEX natural gas price for December gained 4¢ to $2.86/MMbtu. The January contract was up 4¢ to $2.94/MMbtu.

Ultralow-sulfur diesel for December increased 1¢ to a rounded $1.96/gal. The NYMEX reformulated gasoline blendstock for December gained 1¢ to $1.67/gal.

Brent crude oil for January was up 83¢ to $62.96/bbl on London’s International Commodity Exchange. The February contract gained 78¢ to $62.13/bbl.

The gas oil contract for November was $589.50/tonne on Nov. 5, down $4.50.

The Organization of Petroleum Exporting Countries’ basket of crudes for Nov. 5 was $62.57/bbl, up 57¢ from the previous day.