OGJ Newsletter

08/25/2003
Market MovementBombings fail to move oil futures marketThe massive electrical power failure on Aug. 14 that blacked out the US Northeast and southeastern Canada triggered a jump in gasoline futures prices, but oil futures prices continued to decline early last week despite an increase in the number and severity of terrorist attacks in the Middle East.Refineries go downThe power failure disrupted operations at four US and five Canadian refineries, pushing up gasoline futures prices to 99.94¢/gal—a new high for the September contract—during a 2-hr trading session Aug. 15 on the New York Mercantile Exchange.The 74,000 b/d Marathon Ashland Petroleum LLC refinery in Detroit sh...
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