Oil Goes Higher As Mid East Tension Mounts

Friday, October 13, 2000
U.S. oil markets stayed on high alert Friday as traders watched for signs of further escalation in the Middle East's political crisis and of possible impact on tight oil supplies. Rising regional violence pushed crude oil prices up three dollars on Thursday as fears of a cut in Middle East oil flows at a time played on concern that the U.S. is heading into winter with a big deficit in heating fuel. November crude on the New York Mercantile Exchange eased 56 cents to $35.45 a barrel by midday, barely two dollars below post-Gulf War highs as traders watched for further fallout from Israeli forces' Thursday attack on Palestinian President Yasser Arafat's West Bank headquarters.

Offshore

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Onshore Spending on the Cusp of Recovery?

DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

 
 
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