MARKET WATCH: WTI crude posts first weekly loss in 3 weeks

West Texas Intermediate crude posted its first weekly loss in 3 weeks “as the immediate threat of losing Iraqi oil supply seemed to lessen,” said analysts at Raymond James & Associates Inc. WTI ended down 0.4% intraday and 1% on the week, they said, with natural gas ending relatively flat.

The New York Mercantile Exchange August crude oil contract fell 10¢ to $105.74/bbl on June 27. The September contract also fell, down 7¢ to $105.04/bbl.

The natural gas contract for August declined 3.2¢ to a rounded $4.41/MMbtu. On the US cash market, gas at Henry Hub, La., was $4.38/MMbtu, losing 17¢.

Heating oil for July delivery decreased 1.62¢ to a rounded $3/gal. Reformulated gasoline stock for oxygenate blending for July delivery, meanwhile, gained 1.32¢ to a rounded $3.10/gal.

The August ICE contract for Brent crude delivery rose 9¢, closing at $113.30/bbl. The September contract increased 12¢ to $112.85/bbl. The ICE gas oil contract for July relinquished another $4 to $920.75/tonne.

The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes for June 27 was $109.17/bbl, down 21¢ from the previous day.

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