The Cordova daily times., 1921-09-29
OKLAHOMA OIL PRICES AFFECT
 KY. CRUDE

CRy International News Service)
 OIL CITY, Pa, Sept 29.-Equaliza- ton of the difference in the cost of the Somerset CKentucky) grades of crude oil and that from the MidCon- tinent field. according to interests close to the Standard Oil Company are largely responsible for all in crease in the price paid for Somerset, which after a period of nearly two months of unchanged crude prices, have been increased to $11O for the heavy and $l25 for the light grades.
 This increase in price still makes it possible, it is explained. for Somerset light and heavy to compete with the lower priced d-Continent grades at seaboard, when transportation charges are taken into consideration. At the same time 1t is admitted that production of the Somerset grades has not been holding up. and they are not quite so easy to obtain.
 In the Pennsylvania crude fields the increase in price is viewed with con siderable interest. and opinions are conflicting
 While it is generally admitted that the increase in the price of Somerset ,bo,Ii ho,-o a ct, ,h;li1ipu O nd ctranpth- ening effect upon crude market gen. orally. independent refiners believe that the continued scarcity of an out. let for anything but gasoline precludes the probability of an increase in the Pennsylvania grade in the near future.
 Because there is little moving in the line of refined products excepting gaso- line, and that under such conditions that Oklahoma crude at $125 a barrel less than Pennsylvania affords nearly as much gasoline. one refiner believes that it is not likely that an increase in price will come.
 Looking at the situation from the producer's side. there is ample ground for encouragement.
 Fore some time past independent buyers and producers of crude have been paying premium of ten cents a barrel above the market It is under stood that no great amounts of oil have changed hands at this figure
 Every producer who can carry his oil is storing it. and many who are selling part with only enough to take care of current expenses. At the same time some encouragement is taken from the report that, even though it is slight, there has been a decrease in stocks in the Oklahoma field.
 Summarizing conditions from in. formation received through various sources. it seems as if the future is entirely speculative.
 The increase in Somerset prices might stimulate buying in speculative circles interested in the Pennsylvania grade. and. however, plentiful lower priced grades may be. such a move ment would inevitably result in a higher figure
 Any marked tendency toward an in dustrial resumption more general than is now evident, and a resultant in crease in the demand for lubricating and fuel oil would have a marked eff feet upon the market, also as it is in this line that refiners are heavily stocked.
 Once products other than gasoline find a ready demand crude prices are bound to increase.
 Refiners although more active than they have heen, are still operating on basis of rigid economy. with the fewest possible number of men. and the competition for outlets for their products is the keenest that has been experienced In the past seven years.