OGJ Newsletter

06/21/2004
Market MovementAttacks on Iraqi oil facilities bring on slow, weak market responseBuoyed by an earlier decision by other members of the Organization of Petroleum Exporting Countries to boost their production quotas, energy futures markets were slow and weak in reacting to a series of terrorist attacks June 14-16 that effectively shut down oil exports from Iraq.Iraq's state oil marketing agency closed that country's Basrah terminal on the Persian Gulf June 15 after terrorists successfully attacked two crude pipelines supplying the southern export terminals in that country on 2 consecutive days.Yet prices for crude and petroleum products fell in profit-taking June 15 in futures mark...
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