The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-02
OIL MARKrr QUOTATIONS.
Cry9c Prices Adrdnce at
Surprising Rate in Texas

yrb the opcniug of the market
.,,.rIp,. the sinclair oil purrhas-
,,.. ,,upluy advanced the price of
,r,,J. .s cents. which advance APP
,t.. FL, fine entire continent
1II Yt least that portion of II
,,b..n i- served by the Sinclair
iIpr- and that means pretty much
c,,r,tuing cast of Duncan ana adj
tocrnf 1clds. The advance, while
snttgip,tod. was none the less well
cnmr and the only surprise comes
from the fact that the Sinclair pco-
plc were not the first I'm making the
ad,gurc. rs they were I'm making
thc last three cuts In price.
II had been figured by close oh
scr,rr- of conditions, that the SIN
clair on Purchasing company, With
ir. 100000. barrels In storage,
voulh be- more than pleased To sec
ihc market advance, innsmuCh ~ u
would mean something very sub
.tantm I'm the way of profits. were
thry disposed 20 take another In
,cntor,. which however is not thC
n,liry of this concern. II has
simply naked the cost price on the
book. and Is not inclined To count
prof!t- until the oil II run.
The bg surprise OF the day came
abDut noon. when the Prairie oil Il
Ca- CO.,. not only met the price In
oklahoma ana Kansas, set by the
Magnolia and the Sinclair OIL pur-
chasing company, but announced an
ad,anc of another % cents, in
north and rth-cSntral Texas.
which was met again by the Sinclair
oil Purchasing company. Ii Is said
10 h, owing TO the fact that Ranger
and North Texas crude Is badly
wanted inasmuCh as II has pc
Culiar value Of it's own, being equal
IN Pennsylvania for lubriCating
purposes.
Il should he stated that Cosdcn
& Co.. very promptly posted price
Of Sl25: this being announced 81
muituncuusiy with tho sinclair adj
vancc. and II is doubtless the fact
that all rcflncrics throughout the
Mld-CuntlnCnt field. are rapidly re-
adjusting values of refined pro-
duets, and will Immediately, not
only meet the posted prices. but
will puy small premium as they
have always done In order to get
the oil from the very reluctant oil
producers.
II {, very unique si.untiou that
now COnfronts the oil producer, and
the chances are that the price will
advance a. rapidly as IL declined
last February. II H. n Wcll known
fact that the requirements for 1922
are bound Ia he far in excess OF
ANYTHING ever SPCn I'm the way of
consumption, and it looks now as
though the estimates recently made
by the geological survey wherein II
WAS stated that there was only oil
enough In storage 10 last t20 days
l. not only correct, but Il II any
thing, uudcrCS timHtiug the require.
mcnt, Of the trade, when the cN-
port demand il taken into consider.
alton.
There will he much speculation
A. to what happened Monday; Hcrc
are many who predict further price
changes, affecting Louisiana and
Arkansas; II being evident that
especially IN Louisiana, the market
Is far below the real value of that
high grade crude. 4 few pur'
, Chasc~ Of tanks full Of oil woulC
put things i'm much better light
down there.
EdoradO is not threatening t'
break the market these days. ans
lhc man that puts somC oil In stur
age in Eldorado. Is likely TO profi
greatly by his foresight The fnC
that the Duncan field + droppln!
off NJ terrific rate, charge,
principally t" the fact that tn
weather has been extremely DIR,
a and watcr Tor drilling rurnc-"-