OGJ Newsletter

01/26/2004
Market MovementAlgerian mishap briefly boosts energy pricesAs the New York Mercantile Exchange resumed trade Jan. 20, following observance of the US holiday for civil rights leader Martin Luther King, energy futures prices jumped because of an explosion at the Skikda LNG complex in Algeria, threats of another strike by oil workers in Nigeria, and forecasts for extremely cold weather in the US Northeast and Midwest.Concerns of possible disruption of world supplies of oil and petroleum products as a result of the threatened strike and shutdown of the adjacent Skikda refinery in the face of increased demand initially pushed oil futures prices to a 10 month high on NYMEX. The expiring Februar...
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