Newspaper article THE JOURNAL RECORD

Spot Cash Market Lowers Slightly

Newspaper article THE JOURNAL RECORD

Spot Cash Market Lowers Slightly

Article excerpt

From Staff, Wire Reports

Oil futures prices finished lower Friday after a move to extend a rally in the previous session fell apart.

In the 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 Intermediate at $19.50 a barrel. Oklahoma Sour was posted at $17.90 by Kerr-McGee and at $17.65 by Koch and Sun. Kerr-McGee posted Central Oklahoma Sweet at $19.75.

Futures prices for oil rose moderately in the morning, but weakened as many traders decided to sell ahead of the weekend. Many had taken profits following an increase Thursday.

April delivery of light sweet crude closed at $20.93 a barrel, down 14 cents at the New York Mercantile Exchange. It finished the week up 53 cents above the last price before trading was abruptly halted last Friday afternoon by the bomb explosion at the World Trade Center complex where the market is based.

Volume was relatively light Friday, as it was all week, partly due to shortened trading hours from cleanup efforts at the trade center complex. …

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