Newspaper article THE JOURNAL RECORD

Crude Oil Prices Post Increases on Spot Cash, Futures Markets

Newspaper article THE JOURNAL RECORD

Crude Oil Prices Post Increases on Spot Cash, Futures Markets

Article excerpt

From Staff, Wire Reports

Oil prices rose Thursday in a quiet session with buying led by investors who had bet prices would fall.

On the spot cash market, Phillips 66 Co., Kerr-McGee Corp., Sun Co. and Koch Oil Co. raised posted prices by 25 cents. West Texas Intermediate was posted at $20 a barrel. Kerr-McGee, Sun and Koch also posted Oklahoma Sweet at $20, and Oklahoma Sour at $18.40 a barrel. Kerr-McGee posted Central Oklahoma Sweet at $20.25 a barrel.

Light sweet crude oil for September delivery settled at $21.34 a barrel, up 26 cents at the New York Mercantile Exchange. Lower grade sour crude for September delivery closed at $18.84 a barrel, up 26 cents.

In London, North Sea Brent Blend crude oil for September delivery settled at $20.03 a barrel, up 31 cents, at the International Petroleum Exchange.

Natural gas prices were lower at the New York Merc, with contracts for September delivery settling at $1.853 per 1,000 cubic feet, down 5. …

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