Newspaper article THE JOURNAL RECORD

Energy Prices Drop over Supply Question

Newspaper article THE JOURNAL RECORD

Energy Prices Drop over Supply Question

Article excerpt

From Staff, Wire Reports

Heating oil prices led the energy market down Thursday amid growing doubts that winter supplies of crude and refined products would tighten.

On the spot cash market, posted crude oil prices were lowered 50 cents by Phillips 66 Co., Kerr-McGee Corp., Koch Oil Co. and Sun Co., each posting Oklahoma Sweet and West Texas Intermediate at $19.25 a barrel. Oklahoma Sour was posted at $17.15 by Kerr-McGee, Koch and Sun. Central Oklahoma Sweet was posted at $19.50 by Kerr-McGee.

In futures, home heating oil for November delivery settled at 59.51 cents a gallon, down 1.89 cents on the New York Mercantile Exchange.

Light sweet crude oil for December delivery settled at $20.71 a barrel, down 41 cents. Lower grade sour crude for December delivery closed at $18.51 a barrel, down 41 cents.

In London, North Sea Brent Blend crude oil for December delivery settled at $19.59 a barrel, down 31 cents, at the International Petroleum Exchange.

Natural gas prices were lower at the New York Merc, with December contracts settling at $2. …

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