OGJ Newsletter

Market MovementProfit takers roll back energy futures pricesEnergy futures prices declined Mar. 8-10 on New York and London markets, as profit takers rolled back the price increases of the previous week. Energy prices continued to fall after the US Energy Information Administration reported commercial US crude inventories jumped by 3.7 million bbl to 279.5 million bbl during the week ended Mar. 5. However, crude stocks were still 22.1 million bbl below the 5-year average for that time of year, EIA officials said.US distillate stocks rose by 1.4 million bbl to 112.7 million bbl during the same period, with a drop in diesel fuel more than offset by a rise in heating oil, EIA officials repor...

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