OGJ NEWSLETTER

The cold December in the U.S. sent heating fuels prices soaring and crude prices to the highest levels since the historic 1985-86 price crash (see story, p. 24). WTI futures for February delivery closed Jan. 3 at $23.68/bbl, up almost $2 on the week. That is the highest since mid-January 1986, when prices were plummeting to about $10/bbl from more than $30/bbl. WTI postings followed to $22.50/bbl, up $1.50 last week. Heating oil futures climbed 20 on the week to $1.02/gal Dec. 29, the last

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