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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL
CWEI 131.900.0%Apr 25 5:00 PM EST
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To: Buzz Mills who wrote (264)1/6/1997 10:29:00 AM
From: Buzz Mills   of 1017
 
Crude-oil and petroleum-products futures were modestly higher Monday morning on the New York Mercantile Exchange, following news of colder weather in the U.S. and on a report that Iraq will cut its
contractual crude volume in the limited oil-for-food sale being brokered by the United Nations.
At about 10 a.m. EST, February crude oil was up 5 cents at $25.64 a barrel. March crude was up 6 cents at $25.05 a barrel.
Among petroleum products: February heating oil was up 0.76 cent at 72.05 cents a gallon. February unleaded gasoline was up 0.30 cent at 71.00 cents a gallon Iraq has informed a number of customers that it will reduce its contractual volume to stay within the first 90-day sales period value of $1.00 billion, according to Monday's edition of the weekly newsletter Middle East Economic Survey. The newsletter said more than four companies have been asked to reduce their liftings by 50% during the first 90-day period.
Analysts said most of the day's moves would come from heating oil, however, with the front month especially receiving a boost from colder weather in the U.S. Northeast and much of the rest of the country.
February natural gas on Friday jumped 21.6 cents to $3.106 per million BTUs.
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