Newspaper article THE JOURNAL RECORD

Oil Futures Rise Moderately; Natural Gas Prices Decline

Newspaper article THE JOURNAL RECORD

Oil Futures Rise Moderately; Natural Gas Prices Decline

Article excerpt

From Staff, Wire Reports

Oil prices rose modestly on Tuesday as traders reacted to forecasts of tighter supplies of crude oil and refined products.

But traders found little concrete news to provide indications of the market's direction. The snowstorm forecast for the Northeast later this week has lent some support to the market, particularly heating oil prices.

Spot prices were raised 25 cents per barrel Tuesday by Kerr-McGee Refining Corp., Sun Co., Koch Oil Co., Phillips 66 Co. and Total Petroleum Inc. increasing Oklahoma Sweet and West Texas Intermediate to $13 a barrel. Kerr-McGee posted prices of $13.25 a barrel for Central Oklahoma Sweet and $11.40 a barrel for Oklahoma Sour. Sun, Koch and Total priced Oklahoma Sour at $11.15 per barrel.

Light sweet crude oil for delivery in April settled at $14.67 per barrel, up 19 cents, on the New York Mercantile Exchange.

In London, North Sea Brent Blend crude oil for delivery in April settled at $13. …

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