Energy futures end mixed

Journal Record, The (Oklahoma City), Sep 28, 1999

NEW YORK (AP) -- Gasoline futures pushed to 33-month highs Monday on the New York Mercantile Exchange, nudged higher by a refinery shutdown in New Jersey.

For once, crude oil did not lead the way; prices for oil and other energy products were mixed.

Light sweet crude oil for November delivery fell 15 cents to $24.61 a gallon; October heating oil fell 1.5 cents to 62.12 cents a gallon; October unleaded regular gasoline rose .78 cents to 72.66 cents a gallon; natural gas rose .2 cents to $2.632 cents per million British thermal units.

In London, North Sea Brent crude for November delivery rose 17 cents to $24.07 a gallon.

Gasoline prices have been marching higher for months as a result of continued unity by the Organization of Petroleum Exporting Countries on production cuts that have lowered world supplies.

On Monday, crude prices retreated slightly as investors took profits. But gasoline edged higher on continued bullish sentiments as well a shutdown of the Valero refinery in Paulsboro, N.J. The 50,000 barrel-a-day unit was closed Sunday after a plume shot out from an expansion joint in its regenerator, according to the company.

Buying and selling activity also was influenced by this week's expiration of the October gas contract.