New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-08-06
TIE PETROLEUM MARKET.
NEWS FROM THE FIELD AND RANGE OF pRIc

NEWS FROM THE FIELD AND RANGE OF PRICES
In reviewing the oil market last week, The Tribune
quoted received by prominent firm OF oil brokers
this city Europe In which It was stated by the
writer informed by English dealers that any
sustained advance price OF American crude would
play directly into the hands OF the Russian dealers and
importers" The dealings at both the Exchanges in New
and other oil markets in this country have failed
during the past verify this prediction, for not
only prices steadily advanced but the foreign demand
increased and is becoming urgent; vessels
for the transportation Of oil becoming for the tine
sarcer and Monday last the highest rate OF freight
paid for many oil in barrels was recorded in the
charerng bark Philadelphia, the rate being As Cd
per barrel The scarcity of bottoms is only temporary
item In the situation, and be supplied short tme
but the home consumption Is as the winter months APP
proach another item worthy consideration when taken In
conjunction with the foreign demand and the low stocks now
held News from the wells has through the past week.
developed striking indication Of an expansion in the
YIELD statistics generally shown that the demand
is in Of the supply 1t must be remembered that
exports OF July exceeded the production Of that month";
therefore home demand have been drawn from
stocks As the YIELD reported is only increased from
day day by small flows while reports OF decreases
with frequency statistics must when reduced
writing, show fuAlment OF the predictions so gen.
orally circulated that oil will see better figures.
Although the Official returns OF the exports for
the past month have not been issued from Wash.
ngton the following estimate will give fair indication
may be expected from the Government returns
During month the by the National Transit
Tidowater, Southwestern, Octave and Mocksburg:
Barrels
Lines aggregated 'hsoo'oov
BY other small lines. 100000
The eV Shipments from same lines were
leaving 755.oO0
which were taken from the hand. Throughout
the the crude oil market has gained strength IN
sympathy with demand for refined OIL which has been
good throughout and has advanced from IL cents 70
"a cents per gallon, Abel test, at all ports with an
increasing demand all through the week
speculation crude oil at tho Consolidated Board
during the past has been active the transac'
numbering 4595.0o0 barrels, against 43sSOoO IN
tho preceding week Prices have generally reflected an
improved In tho market Opening on Monday az ~
with fair demand, steady advance to 81 LIS was re-
corded followed by decline to 10 rs. tho lowest nguEe
OF tho week. Tuesday forenoon From that there was
steady advance throughout the week. until SATURDAY
"a 38 reached tho highest price, thus showing an
OF only IL points during the week Inc
closed drm a "a cents with good demand Inc
dealings q. the New.York Stock Exchange aggregated
o 27s 900 barrels and prices generally well suS
tainod closing the figure as at the Consolidated
Board.
Tho range OF prices and the total dealings in Naon
Transit certificates the Consolidated Stock and re-
troeum Exchange for the corresponding week tor ieo
years follows
Week ending Aug T. 1850 Aug g. 1887 Aug aSS'
S $$$;.; !: !: ssfss AZ: rs
s sns barrels 157o9,oo0 e,soSoSo 45SsoOo
Refined oil opened at IL cents advanced to So on
rose 81 Thursday. and closed nrm win
good demand at that price. all ports for Abel test
Foreign markets showed steady advances through the
week closing as follows: Antwerp. Is 1919; Bremen
750 and London. i1.16dG 1910 Al the close Oh u.
week there was required A vessels loading ana
chartered load to Friday last S9ss97 barrels