IN THE NEWS / Petroleum Report for Thursday, December 24, 1998
Crude-oil futures slipped in an abbreviated trading session
Thursday, though gasoline futures manage to eke out a small gain.
January gasoline showed some strength earlier in the session on
buying in the New York Harbor market, said a trader. The contract
pushed as high as 33.65 cents a gallon, a 0.59-cent gain, but the
higher price attracted sellers at the end of the day, traders
said.
Heating oil lost the most ground. Gains on colder weather in the
U.S. and on a stock draw reported earlier this week may have been
overdone, said one analyst.
The Nymex is closed Friday for Christmas. In London, the
International Petroleum Exchange is closed until Tuesday. (WSJ)
--------------------CRUDE OIL-LIGHT SWEET---------------------
NYM - 1,000 bbl_dollars per bbl. CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Feb 99 11.33 11.40 11.15 11.23 -.10 20.79 10.75
Mar 99 11.55 11.60 11.40 11.46 -.09 20.40 11.10
Apr 99 11.82 11.82 11.72 11.73 -.08 20.79 11.35
May 99 12.06 12.08 11.99 11.99 -.08 20.79 11.63
Jun 99 12.38 12.38 12.38 12.22 -.08 20.42 11.95
Jul 99 12.47 12.47 12.45 12.45 -.08 20.40 12.20
Aug 99 12.70 12.70 12.65 12.65 -.08 20.04 12.51
Dec 99 13.48 13.53 13.45 13.45 -.08 20.34 13.37
Est. Sales 9803
-------------------------HEATING OIL-------------------------
NYM - 42,000 gal_cents per gal
CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Jan 99 32.66 32.75 32.10 32.19 -.35 59.50 31.25
Feb 99 33.65 33.65 33.10 33.19 -.31 58.50 32.40
Mar 99 34.14 34.14 33.74 33.74 -.26 58.81 33.10
Apr 99 34.60 34.60 34.14 34.14 -.26 59.00 33.70
May 99 34.60 34.80 34.59 34.59 -.26 54.56 34.30
Jun 99 35.10 35.45 35.10 35.24 -.26 52.75 35.05
Jul 99 36.05 36.15 35.99 35.99 -.26 52.90 35.85
Nov 99 39.70 39.70 39.34 39.34 -.26 52.44 39.34
Jan 00 41.10 41.10 40.74 40.74 -.26 50.75 40.74
Feb 00 41.25 41.25 40.74 40.74 -.26 50.08 40.74
Mar 00 41.15 41.15 40.59 40.59 -.26 50.60 40.59
Est. Sales 5988
--------------------------NATURAL GAS-------------------------
NYM - 10,000 mm british thermal units.
CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Jan 99 1.910 1.920 1.860 1.881 -.025 2.950 1.790
Feb 99 1.905 1.915 1.860 1.878 -.024 2.770 1.860
Mar 99 1.895 1.904 1.875 1.883 -.012 2.600 1.865
Apr 99 1.875 1.880 1.865 1.869 -.008 2.440 1.860
May 99 1.895 1.900 1.875 1.890 -.003 2.380 1.870
Jun 99 1.915 1.920 1.910 1.915 0 2.380 1.860
Jul 99 1.945 1.945 1.935 1.937 0 2.390 1.925
Aug 99 1.970 1.970 1.965 1.965 0 2.390 1.950
Oct 99 2.050 2.050 2.040 2.040 0 2.415 2.025
Nov 99 2.185 2.190 2.185 2.185 0 2.535 2.140
Dec 99 2.345 2.355 2.345 2.345 0 2.680 2.213
Jan 00 2.410 2.410 2.410 2.410 0 2.655 2.320
Feb 00 2.325 2.326 2.325 2.326 0 2.545 2.310
Est. Sales 8239
------------------------UNLEADED GAS--------------------------
NYM - 42,000 gal_cents per gal
CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Jan 99 33.00 33.65 32.70 33.14 +.08 51.30 32.50
Feb 99 34.85 34.95 34.25 34.63 -.08 52.75 34.10
Mar 99 36.05 36.40 35.80 36.13 -.08 52.30 35.60
Apr 99 39.20 39.38 39.20 39.38 -.08 55.00 38.70
May 99 40.35 40.38 40.25 40.38 -.08 55.83 39.90
Jul 99 41.75 41.75 41.68 41.68 -.08 52.60 41.20
Est. Sales 5318
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