Commodity Futures Contract Prices for February 10, 1995

Strategic Insights -

Commodity futures contract prices for the week showed mixed results, with some contracts experiencing significant price changes while others remained relatively stable. March crude oil futures contracts increased in price on both the New York Mercantile Exchange (Nymex) and the London International Petroleum Exchange (IPE), while natural gas futures decreased in price. The prices of gasoline and heating oil contracts also showed variations, with March gasoline futures declining while April contract prices increased.

Key Takeaways:

  • March crude oil futures contracts increased by 22 cents per barrel (bbl) to $18.46 bbl on the Nymex and by 22 cents to $17.33 bbl on the IPE.
  • Natural gas futures decreased by 1.9 cents per million British thermal units (MMBtu) to $1.470 MMBtu.
  • March gasoline futures declined by 0.2 cents per gallon (gal) to 55.64 cents gal, while April contract prices increased by 0.7 cents to 57.39 cents gal.
  • March heating oil futures increased by 0.63 cents per gal to 48.28 cents gal.
  • The closure of several European refineries likely contributed to the price movements, but the impact is still unclear.
  • Prices for crude on the U.S. spot market are "vacillating" and may continue to do so until gasoline demand increases in April.

Statistics:

  • March crude oil futures contracts increased by 22 cents per bbl to $18.46 bbl on the Nymex.
  • Natural gas futures decreased by 1.9 cents per MMBtu to $1.470 MMBtu.
  • March gasoline futures declined by 0.2 cents per gal to 55.64 cents gal.
  • April gasoline contract prices increased by 0.7 cents per gal to 57.39 cents gal.
  • March heating oil futures increased by 0.63 cents per gal to 48.28 cents gal.
  • The trans-Atlantic spread between dated Brent and Nymex March crude widened to $1.26 per bbl.
  • Prices for crude on the U.S. spot market are trading sideways.

Sources:

  • "Commodity futures prices dip Friday" by the Associated Press, February 10, 1995.
  • "Nymex Takes Modest Losses" by the St. Louis Post-Dispatch, February 10, 1995.
  • The National Climate Analysis Center, February 10, 1995.