Petroleum industry
Oil markets experienced a rebound on Thursday as fears of oversupply appeared to recede and short-covering dominated trading. The January gasoline contract on the New York Mercantile Exchange (Nymex) closed at 51.85% per gallon, up 1.15%, while the Nymex heating oil contract gained even more, closing at 49.
Petroleum industry
Traders' fears of a surplus in reformulated gasoline fueled a price drop in gasoline futures on the New York Mercantile Exchange (Nymex), with prices falling to 47.16* per gallon Monday. The price decline was sparked by concerns over Pennsylvania's effort to withdraw 28 counties from the
Petroleum
The recent rupture of Colonial Pipeline Co.'s main gasoline line to the Northeast and the Houston flood have significantly impacted gasoline stocks in the United States. According to the American Petroleum Institute (API), gasoline stocks plummeted nearly 5.85 million barrels, exceeding traders' predictions of a decline
Petroleum
Petroleum traders attribute the recent surge in crude oil and gasoline futures prices on the New York Mercantile Exchange to low industry stocks reported by the American Petroleum Industry (API). The API report, released on October 26, 1994, revealed that gasoline stocks had dropped to 202 million bbl, a decline
Petroleum industry
WASHINGTON -- A 13.2% increase in demand for distillate fuel oil has led to a surge in fuel oil futures trading. On August 31, 1994, number two heating oil futures for September delivery increased to $0.4939/gal, while October delivery futures rose to $0.4924/gal. West Texas
Petroleum industry
Crude oil futures prices crashed on the New York Mercantile Exchange (Nymex) on Friday, August 26, 1994, in response to bearish fundamentals. The price of West Texas Intermediate (WTI) for October 1994 delivery plummeted to $17.14/bbl, with analysts predicting further decreases to $16.75/bbl, the lowest price
Petroleum industry
Oil markets edged up on Tuesday as traders weighed the uncertain outlook against the impact of severe winter weather in the northern states. West Texas Intermediate crude oil futures rose as much as 28 cents to $14.67 per barrel, while April North Sea Brent futures gained 22 cents to
Petroleum industry
The Northeast's cold weather sent heating oil prices skyrocketing initially, with No. 2 heating oil futures for March delivery gaining as much as 1.62*/gallon on the New York Mercantile Exchange. However, the gains were short-lived as heavy selling pressure led to a sharp decline, with the
