U.S. ENERGY FUTURES POST GAINS AFTER FIRM OPEN
Light mixed buying around the rings
boosted U.S. energy futures to new daily highs after a slightly
firmer open, traders said.
    May crude jumped 15 cts to 18.82 dlrs a barrel, nearing the
top end of a 17.75-18.85 dlrs resistance range. Traders said
firmness in the North Sea Brent cash crude market plus reports
of escalation in the Iran/Iraq war lent support to crude
futures. April 15-day forward Brent crude traded as high as
19.40 dlrs a barrel today.
    Traders said resistance continues overhead near 19.00 dlrs
a barrel for May crude futures.
     Gasoline continued to post larger gains than heating oil
and to trade at a premium to two oil futures. May gasoline was
up 0.56 cent to 53.50 cts a gallon, at resistance.
    May heating oil was up 0.36 cent to 49.15 cts a gallon. 
Both contracts were off 0.05 cent from this morning's high.
 Reuter
