A Monday morning London Brent update (The NYMEX is closed)

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Brent's up 35 cents

There doesn't seem to be much fresh news. Settling at a huge $2.50 discount on Friday, the IPE Brent needs to rally up to get more in line with NYMEX crude values.

Is it major fund buying, y2k disruptions, or a new era of OPEC cohesion?

-- Downstreamer (downstream@bigfoot.com), January 17, 2000

Answers

And a link:

Brent story

-- Downstreamer (downstream@bigfoot.com), January 17, 2000.


Downstreamer,

Thanks for the update.

Jerry

-- Jerry B (skeptic76@erols.com), January 17, 2000.


Many here have asked how long it takes for NYMEX futures price increases to be reflected at the pump. I just posted a private industry perspective from OPIS on pending wholesale gasoline and diesel price increases at the above linked Petro Forum that should be of interest to you TBers.

-- Downstreamer (downstream@bigfoot.com), January 17, 2000.

DS,

Great board! Added it to my toolbar folder.

Sincerely,

-- Uhhmmm... (JFCP81A@aol.com), January 17, 2000.


Re crude prices showing up at the pump:

Here in my town in SW Okla, unleaded gas went up 10cents per gallon over the weekend.

-- jeanne (jeanne@hurry. now), January 17, 2000.



Afternoon update:

March Brent (Feb expired last Friday), settled at $25.65, up 48 cents on the day. NYMEX ACCESS trading will start at 6 PM CST tonight.

-- Downstreamer (downstream@bigfoot.com), January 17, 2000.


If I'm reading NYMEX Access numbers correctly, as of 20:37 EST, Feb light crude is up 0.14 to 28.16.

Jerry

-- Jerry B (skeptic76@erols.com), January 17, 2000.


Right Jerry, and gas up to 75c, at this rate i might actually be in the money on my 85c calls by next week. I'm buying the beers!

-- Andy (2000EOD@prodigy.net), January 17, 2000.

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