OGJ Newsletter

07/28/2003
Market MovementGas futures price hits 7-month lowEnergy futures prices plummeted July 22 on the New York Mercantile Exchange, with natural gas hitting a 7-month low of $4.87/Mcf as a tropical storm dissipated in the Caribbean.The expiring August contract for benchmark US light, sweet crudes fell by $1.59 to $30.19/bbl, but no one seemed to know exactly why. Guesses ranged from the deaths of two of Saddam Hussein's sons, Uday and Qusay Hussein, killed that same day in a firefight with US troops in Iraq, to a call by the London-based Centre for Global Energy Studies for members of the Organization of Petroleum Exporting Countries to increase production at their July 31 meeting to make u...
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