OGJ Newsletter

Market MovementMarket shrugs off Iraqi oil stoppage, watches weatherOil prices fell last week as markets refused to be rattled by another stoppage of Iraqi crude exports. Click here to enlarge imageNYMEX crude fell through the $30/bbl watershed last week for the first time in 4 months, closing at $29.53/bbl Dec. 5 vs. topping $35/bbl for most of the preceding 2 weeks. Almost all of that slide occurred since Baghdad halted exports (see related story, p. 40).Other prices were mostly down due to several factors. WEFA Energy Services noted a slight easing of tight middle distillate supplies amid predictions of continuing cold weather in the US.WEFA said, "The market has been responding to ...

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