MARKET WATCH: Oil futures rally on Ukraine concerns

Crude oil prices on both the New York and London markets rallied Mar. 3 upon increasing tensions between Russia and Ukraine, which analysts said boosted fears of possible disruptions to global oil supplies.

The New York Mercantile Exchange crude contract for April delivery touched $105.22/bbl during Mar. 3 trading before closing at $104.92/bbl, which was the highest level for the front-month contract since Sept. 19, 2013. The NYMEX May contract rose $2.33 to settle at $104.22/bbl.

Heating oil for April delivery was up 6.42¢ to a rounded $3.08/gal. Reformulated gasoline stock for oxygenate blending for April delivery was up 4.29¢ to a rounded $3.02/gal.

The April natural gas contract on NYMEX declined 11.7¢ to a rounded $4.49/MMbtu. On the US spot market, the gas price at Henry Hub was $6.70/MMbtu, up $1.96.

In London, the April ICE contract for Brent crude delivery gained $2.13, closing at $111.20/bbl, marking its highest level since late December 2013. The May contract increased $2.14 to $110.77/bbl. The ICE gas oil contract for March was up $20 to $940.75/tonne.

The Organizational of Petroleum Exporting Countries reported its basket of 12 benchmark crudes was $107.80/bbl on Mar. 3, up $1.88.

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