MARKET WATCH: Brent crude oil futures down slightly with NYMEX closed on Presidents’ Day

Crude oil prices declined modestly in Feb. 17 trading while the New York futures commodities trading floor was closed for the US Presidents’ Day holiday.

Analysts expected US natural gas prices to rise during Feb. 18 trading because a snowstorm was moving into New England after crossing the Midwest and part of the Mid-Atlantic.

On world oil markets, analysts noted bombings in Iraq on Feb. 17. Initial police reports indicated that at least 25 people were killed and another 80 were wounded.  Three bombs exploded in Baghdad markets, and a fourth bomb exploded outside a mosque.

Meanwhile, international talks on Iran’s nuclear program resumed Feb. 18 in Vienna. Last year, Iran and the United Nations Security Council plus Germany agreed to a temporary pact intended to limit Iran’s nuclear program.

In London, the April ICE contract for Brent crude delivery was down 14¢, closing at $108.94/bbl.

The ICE gas oil contract for March climbed $4.25 to $924.25/tonne.

The Organizational of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $106.11/bbl on Feb. 17, up 53¢.

Related Articles

Market watch: Energy futures prices rose slightly Friday

05/06/2002 Crude oil futures prices rose slightly Friday amid lingering uncertainty about a possible disruption of Middle East supplies, although tensions in ...

Gulf of Mexico oil service sector showing signs of an upturn

05/06/2002 The Gulf of Mexico oil service sector is experiencing the signs of an upturn, analysts with Simmons & Co. International, UBS Warburg LLC, and RBC D...

OTC: Industry, national agencies need to work together to make FPSOs work in the gulf

05/06/2002 Over the coming years, the oil and gas industry will have to keep an open line of communication with national agencies such as the US Coast Guard a...

Market watch: Energy futures prices fall as Iraq lifts embargo

05/07/2002 Crude oil futures prices fell Monday after Iraq announced plans to lift a self-imposed export embargo with exports expected to resume by Wednesday.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected