San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-03-02
BUYING FOR EXPORT
is CHIEF FEATURE
in MiD-CONTINENT
Otherwise Market Contin-
ues Dali Due to Weather
Conditions There.
Tulsa, OLA, March 1-Export buy

Tulsa, OLA, March 1-Export buy
ing featured the Mid-Continent refined
oil market the past week, large ma
jority of the purchases being centered
in the North Texas territory. Sinclair
Refining Company and Marland Re
filming Company are the most active
of these buyers. New Navy gasoline
and the higher grades notably the 64-
66 grade were the most sought after
for export purposes.
Meanwhile weather conditions are
still a big factor in the continuing
dizziness of the market. Buying by
jobbers throughout the Standard of
Indiana territory has been very limit
ed pending better weather for motor
fuel consumption which naturally
will react in favor of other products.
Weather reports indicate that the lat
ter part of the week will see a resump-
ton of buying by jobbers, In spite OF
this temporary lull in demand the re-
fled market structure has stood the
gaff in good shape and can easily re-
bound with more favorable conditions.
The seasonal demand for gasoline
will probably begin within the next
30 days as far as the refiners are
concerned. Crude oil runs to refineries
generally begin increasing about
March ] and in anticipation OF this it
is likely that runs to refineries will be
some 10000 barrels more by April l
than at the present time. This has
nearly always been the rule in past
years.
Weekly report of Western PETROL
cum Refiners' Association under date
of February 16 showed a small in
crease in amount of oil run through
the stills and while gasoline and kero-
sene production showed loss that OF
fuel oil and gas oil increased. Bad
weather interfered seriously with re-
finery shipments of gasoline from the
Mid-COntinent area the past week, the
report showing 16,014,19S gallons
! shipped as compared with 20,d5O,5Ie
gallons the previous week. These fig
ures, gathered from 131 refineries in
/ the five states of Oklahoma, Kansas,
/ North Texas, Louisiana and Arkansas
show as compared with the preceding
week 8 per cent decline in output OF
gasoline. a % per cent decline in ship
ments Of gasoline and z per cent i'll
crease in stocks. The showing made IN
! kerosene was much the same as in
| SdSOllue Wllle luel OIL SuONeu u ~
| per cent increase in shipments against
only q per cent increase in output and
= per cent increase in stocks.
Prices of gasolines after a slight
weakening are holding firm. New
Navy gasoline at 10 IA and 10 IL
cents and the higher GRANTEES should
more than hold their own with export
demand beginning to add strength.
Naptha is bringing 10 IL and IL cents
for the ordinary 50-52 brand. In the
/ high gravities the 60-62 grade can be
purchased in small lots for IL IL and
IL "a cents while the 64-6G grade is
! strong at 10 "a and Is cents. The
$50 gasoline, highest gravity manu-
| featured, has a wider selling range
being quoted from j. IL to IA cents.
Everything considered gasolines have
more than held their own during the
prolonged period Of unfavorable
weather.
Natural gasoline is slower to re-
spond to a better tone in the northern
Mid-Continent than in North Texas
because Oklahoma-Kansas manufact-
urers have little available storage and
. present prices cannot afford much
4 more. In North Texas there appears
to be plenty of storage and the man