Petroleum
Oil prices rebounded across the board on Monday as many traders decided last week's sharp sell-off was overdone in view of the longer-term supply outlook. The price of October 1994 West Texas Intermediate crude oil futures increased by 49 cents/bbl, reaching $17.63/bbl on the New
Petroleum
Crude oil prices experienced a brief recovery on Thursday, but market analysts are skeptical about the rally's durability. West Texas Intermediate (WTI) crude oil futures for March delivery rose 30 cents to $14.23 per barrel, but most of the buying was attributed to short-covering, a strategy where
Petroleum
Increased North Sea crude oil supplies put downward pressure on futures prices in March 1994, despite strong demand for heating fuels in the United States and Europe. The scheduling of 41 Forties Blend cargoes in March helped undermine April Brent futures, which declined 9 cents to $13.27 per barrel.
