Newspaper article THE JOURNAL RECORD

Decline for Oil Futures Continues

Newspaper article THE JOURNAL RECORD

Decline for Oil Futures Continues

Article excerpt

From Staff, Wire Reports

Oil futures continued a downward drift Wednesday following a report Tuesday showing crude supplies dropped.

In the domestic spot cash market, posted prices were lowered 25 cents by Phillips 66 Co., Kerr-McGee Corp., Koch Oil Co. and Sun Co., each posting Oklahoma Sweet and West Texas International at $18.75 a barrel. Oklahoma Sour was posted at $17.15 by Kerr-McGee, Koch and Sun. Kerr-McGee posted Central Oklahoma Sweet at $19.

At the New York Mercantile Exchange, light sweet crude for December delivery closed at $20.19 a barrel, down 7 cents. Lower grade sour crude for December delivery settled at $17.84 a barrel, down 37 cents.

In London, North Sea Brent Blend crude oil for December delivery closed at $19.04 a barrel, down 9 cents, at the International Petroleum Exchange.

Natural gas December contracts in New York settled at $2.375 per 1,000 cubic feet, down 3.4 cents.

Unleaded gasoline prices rose 0.01 cents to settle at 54. …

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