Petroleum
Crude futures contracts on the New York Mercantile Exchange (Nymex) weakened in April 1995, in anticipation of bearish crude inventory reports from the American Petroleum Institute. The U.N. Security Council's decision to keep the oil embargo against Iraq in place added to market uncertainty. Meanwhile, a fire
Petroleum
Gasoline contracts on the New York Mercantile Exchange (Nymex) took a sharp decline on Friday, driven by low demand and weak technical indicators. The April gasoline contract settled at 52.47 cents per gallon, down 1.88 cents, while the May contract dropped to 52.85 cents per gallon, down
Petroleum
The fate of the reformulated gasoline (RFG) program continues to be a topic of speculation, with the Environmental Protection Agency (EPA) denying reports that it had refused to allow Wisconsin to opt out of the program. Industry sources have expressed concern that if Wisconsin is allowed to suspend the program,
Petroleum
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
Petroleum
U.S. crude oil and natural gas prices are expected to be volatile in the early part of this year, with prices likely moving lower before rebounding to sharply higher levels by the second half of the year, according to Smith Barney's technical analyst Richard Lorusso. Lorusso predicts
Natural gas
The oil market has seen a correction following last week's gains, with crude, products, and natural gas futures dropping across the board on Tuesday. The New York Mercantile Exchange (Nymex) was closed on Monday due to the New Year's holiday, which contributed to the decline. Market
Petroleum
The New York Mercantile Exchange (Nymex) saw a mixed trading session on Thursday, as crude oil futures prices ended an eight-day streak of consecutive gains. On the other hand, January gasoline and heating oil futures surged higher after the American Petroleum Institute (API) released bullish inventory reports on Wednesday evening.
Petroleum
The New York Mercantile Exchange (Nymex) is weighing the option to extend the life of its crude futures contract, potentially pushing it up to five years forward. This move would likely be met with enthusiasm from derivatives dealers, who have been requesting the change. Industry sources indicate that the extension
Petroleum
In quiet trading on Friday, crude and products markets turned bearish ahead of the Organization of Petroleum Exporting Countries (OPEC) meeting in Bali. Light sweet crude for December delivery fell 18 cents to settle at $17.47 per barrel on the New York Mercantile Exchange (Nymex). January contracts also fell,
Petroleum
Gasoline prices plummeted on Tuesday, driven by profit-taking after a four-day price hike and expectations of high refinery runs and increased inventories. Analysts' estimates, although often wrong, heavily influence trading. The sharp decline in prices comes as oil companies continue to reduce wholesale unleaded regular prices, cutting 0.34
Petroleum
Gasoline prices in the United States made a rebound on Friday, reversing a decline that had caused spot-market gasoline to become cheaper than manufacturing it. This significant drop in prices sparked speculation among traders that refineries might reduce their output, leading to a subsequent rise in futures prices. The recovery
Petroleum
U.S. and North Sea crude oil prices took a divergent path on Tuesday, as prices for West Texas Intermediate (WTI) crude oil futures fell 1.8% to $17.45 per barrel, while October North Sea Brent futures rose 2% to $16.24 per barrel. This price disparity has led
