Newspaper article THE JOURNAL RECORD

Late Rally, OPEC Claims Lift Oil Prices

Newspaper article THE JOURNAL RECORD

Late Rally, OPEC Claims Lift Oil Prices

Article excerpt

NEW YORK (AP) _ Oil prices settled higher Thursday, helped by a late-session rally in heating oil prices and further claims by the Organization of Petroleum Exporting Countries that its members are complying with production limits.

Next-month delivery of light sweet crude oil finished at $20.29 per barrel, up 12 cents, at the New York Mercantile Exchange.

On the spot cash market, posted prices were raised 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 a barrel.

Central Oklahoma Sweet was posted at $19.25 a barrel by Kerr-McGee. Oklahoma Sour was posted at $17.40 by Kerr-McGee and at $17.15 by Koch and Sun.

In London, North Sea Brent Blend crude oil for delivery in May settled at $18.84 per barrel, up 13 cents, at the International Petroleum Exchange.

Natural gas prices on the New York Merc were mixed. Contracts for delivery in April settled at $2.031 per 1,000 cubic feet, up 1. …

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