Crude oil futures advanced Wednesday on the New York Mercantile
Exchange after inventory data revealed an unexpected decline in
heating oil stockpiles last week.
Crude was pulled along after both the Department of Energy and the
American Petroleum Institute reported unleaded gasoline and
heating oil inventories declined, despite expected increases due
to unseasonable weather.
Unleaded gasoline inventories fell 2.43 million barrels, or 1.1
percent, to 221.94 million barrels, according to the API. Analysts
had expected a rise of between 500,000 and 1.1 million barrels.
The decline nearly halved the year-over-year gasoline surplus, to
4.4 million barrels from 8.2 million last week.
U.S. distillate supplies, which include heating oil, fell 2.4
million barrels, or 1.6 percent, to 150.5 million barrels, the API
reported.
Analysts noted much of the declines came as refinery output fell
sharply in the past week, to 92 percent of capacity as low crude
prices bring in low profit margins. The inventory declines boosted
hopes an inventory surplus that has lingered for the better part
of a year might finally be easing. (AP)
--------------------CRUDE OIL-LIGHT SWEET---------------------
NYM - 1,000 bbl_dollars per bbl. CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Mar 99 12.10 12.44 11.95 12.32 +.26 20.40 11.10
Apr 99 12.11 12.48 12.02 12.37 +.27 20.79 11.35
May 99 12.19 12.56 12.13 12.47 +.28 20.79 11.01
Jun 99 12.30 12.70 12.27 12.59 +.29 20.42 11.48
Jul 99 12.58 12.58 12.58 12.72 +.29 20.40 12.20
Aug 99 12.73 12.90 12.73 12.85 +.29 20.04 12.51
Sep 99 12.80 13.05 12.80 12.98 +.29 20.33 12.72
Oct 99 13.12 13.20 13.05 13.11 +.29 20.14 12.87
Nov 99 13.25 13.30 13.25 13.25 +.29 20.60 13.02
Dec 99 13.20 13.45 13.15 13.39 +.29 20.34 13.14
Jan 00 13.50 13.61 13.50 13.53 +.29 19.88 13.31
Feb 00 13.60 13.66 13.57 13.66 +.29 20.16 13.45
Apr 00 13.85 13.89 13.85 13.89 +.29 17.81 13.70
Jun 00 14.10 14.17 14.10 14.11 +.29 20.34 13.94
Dec 00 14.77 14.80 14.77 14.80 +.28 20.10 14.65
Mar 01 15.06 15.12 15.06 15.12 +.28 17.26 14.96
Dec 01 16.00 16.00 15.98 15.98 +.28 20.98 15.65
Dec 03 17.19 17.27 17.19 17.27 +.28 22.00 16.95
Est. Sales 110283
-------------------------HEATING OIL-------------------------
NYM - 42,000 gal_cents per gal
CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Feb 99 32.00 32.95 31.65 32.52 +.72 58.50 31.30
Mar 99 32.00 33.15 32.00 32.79 +.77 58.81 31.70
Apr 99 32.55 33.55 32.50 33.19 +.72 59.00 32.19
Jun 99 34.00 34.85 33.49 34.49 +.67 52.75 33.20
Jul 99 34.80 35.80 34.80 35.34 +.67 52.90 34.39
Aug 99 36.40 36.45 36.19 36.19 +.67 50.55 35.24
Sep 99 36.42 36.42 36.42 37.04 +.62 52.00 36.14
Oct 99 38.40 38.40 37.89 37.89 +.62 52.00 37.04
Nov 99 38.80 39.25 38.79 38.79 +.67 52.44 37.94
Dec 99 39.60 40.05 39.60 39.64 +.67 52.70 38.84
Jan 00 40.20 40.45 40.20 40.24 +.67 50.75 39.44
Feb 00 40.30 40.50 40.24 40.24 +.67 50.08 39.44
Mar 00 40.50 40.50 40.04 40.04 +.62 50.60 39.29
Apr 00 40.10 40.10 39.69 39.69 +.62 49.04 39.07
Est. Sales 42566
--------------------------NATURAL GAS-------------------------
NYM - 10,000 mm british thermal units.
CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Feb 99 1.720 1.850 1.715 1.810 +.096 2.770 1.695
Mar 99 1.755 1.850 1.755 1.826 +.076 2.600 1.732
Apr 99 1.797 1.875 1.797 1.851 +.061 2.440 1.773
May 99 1.830 1.900 1.830 1.871 +.047 2.380 1.810
Jun 99 1.870 1.915 1.860 1.896 +.042 2.380 1.840
Jul 99 1.890 1.940 1.890 1.925 +.040 2.390 1.870
Aug 99 1.929 1.960 1.920 1.951 +.038 2.390 1.890
Sep 99 1.950 1.990 1.950 1.976 +.034 2.380 1.920
Oct 99 2.000 2.040 2.000 2.031 +.027 2.415 1.970
Nov 99 2.165 2.185 2.165 2.181 +.028 2.535 2.115
Dec 99 2.310 2.340 2.310 2.331 +.026 2.680 2.213
Jan 00 2.360 2.395 2.360 2.381 +.026 2.655 2.310
Feb 00 2.295 2.310 2.295 2.301 +.021 2.545 2.240
Mar 00 2.200 2.225 2.200 2.216 +.021 2.426 2.150
Apr 00 2.145 2.155 2.145 2.148 +.021 2.320 2.075
May 00 2.120 2.130 2.120 2.123 +.021 2.300 2.057
Jun 00 2.135 2.140 2.130 2.140 +.021 2.308 2.065
Jul 00 2.155 2.156 2.151 2.157 +.021 2.320 2.083
Aug 00 2.170 2.170 2.150 2.162 +.021 2.320 2.090
Sep 00 2.175 2.175 2.155 2.166 +.021 2.321 2.100
Oct 00 2.195 2.195 2.180 2.189 +.021 2.341 2.100
Nov 00 2.320 2.320 2.320 2.320 +.021 2.469 2.048
Dec 00 2.480 2.480 2.480 2.475 +.021 24.020 0.244
Jan 01 2.525 2.525 2.525 2.520 +.021 2.613 2.400
Feb 01 2.400 2.430 2.400 2.420 +.021 2.505 2.305
Mar 01 2.330 2.330 2.325 2.323 +.021 2.410 2.210
Apr 01 2.235 2.235 2.228 2.226 +.021 2.315 2.120
May 01 2.205 2.220 2.205 2.211 +.021 2.305 2.114
Jun 01 2.214 2.225 2.214 2.215 +.021 2.291 2.095
Jul 01 2.218 2.225 2.218 2.219 +.021 2.291 2.095
Aug 01 2.226 2.235 2.226 2.227 +.021 2.273 2.102
Sep 01 2.233 2.245 2.233 2.234 +.021 2.245 2.132
Oct 01 2.270 2.270 2.270 2.261 +.021 2.270 2.133
Nov 01 2.400 2.400 2.400 2.399 +.021 2.405 2.271
Dec 01 2.550 2.550 2.550 2.540 +.021 2.550 2.410
Jan 02 2.600 2.600 2.600 2.580 +.021 2.600 2.450
Est. Sales 134852
------------------------UNLEADED GAS--------------------------
NYM - 42,000 gal_cents per gal
CONTRACT
OPEN HIGH LOW SETTLE CHANGE HIGH LOW
Feb 99 34.25 35.80 34.15 35.45 +1.23 52.75 33.55
Mar 99 35.75 36.95 35.55 36.66 +1.22 52.30 35.00
Apr 99 38.80 40.10 38.80 39.78 +1.19 55.00 38.35
May 99 39.95 41.10 39.95 40.86 +1.17 55.83 39.41
Jun 99 41.05 41.80 41.05 41.58 +1.14 54.70 40.44
Jul 99 42.10 42.20 42.00 42.08 +1.13 52.60 40.61
Est. Sales 32739
from AP |
