Newspaper article THE JOURNAL RECORD

Energy Futures End Mixed

Newspaper article THE JOURNAL RECORD

Energy Futures End Mixed

Article excerpt

NEW YORK (AP) - Energy futures prices ended mixed Wednesday on the New York Mercantile Exchange after falling at the opening in response to an industry report that showed an increase in oil inventories.

The March contract for West Texas Intermediate, the main grade of U.S. crude oil, slipped a penny to $21.59 a barrel, after a 17-cent drop on Tuesday. Other contract months also declined.

Among refined products traded on the New York Merc, regular unleaded gasoline for February delivery lost 0.24 cent to 59.38 cents a gallon, while other contract months were mixed.

February heating oil gained 0.29 cent to close at 59.57 cents a gallon while the contract for March delivery rose 0.29 cent to 57.36 cents a gallon. Contracts for later delivery declined.

Analysts said prices moved lower at the opening in response to an industry report that showed a buildup in petroleum supplies in the nation's storage tanks.

The report by the American Petroleum Institute, a trade association representing mainly large oil refineries, said that heating oil and gasoline stocks rose last week, while crude oil supplies declined.

Prices rebounded in the afternoon as large refiners moved into the market.

m is fair, even-handed enforcement of the surface mining law,'' Lujan said in a statement. ``This new agreement underscores our willingness to cooperate with citizen groups and the Congress in seeing that the law is enforced consistently and effectively.''

At the same time, Lujan said, ``this settlement does not go beyond the law's requirements, or compromise coal mine operators' entitlement to due process of the law.''

The agreement, worked out in intense negotiating sessions beginning last September, is aimed at creating a computer system that will accurately match previous violators of the law with applicants for new coal mining permits. …

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