

                01/31/94     PETROLEUM NEWS & QUOTES

   Crude oil and unleaded gasoline prices closed lower Monday on  the  New
York Mercantile Exchange due to profit-taking but home-heating oil and natural
gas  settled  higher with forecast of more cold weather hitting the northeast.
Crude for March delivery yielded 15 cents to settle at $15.19 a barrel.

   TEHRAN (OPECNA) - Iran expects to earn $10.72 billion  in  oil  revenues
in  its  next  fiscal  year  beginning  21  March,  deputies  in  the Majlis
(Parliament) agreed Sunday.
   Their deliberations over the 1994-95 budget bill began Saturday and the
outline plan was approved Sunday.

     INT'L SPOT MARKET                MONDAY        FRIDAY
  UAE'S DUBAI LIGHT CRUDE         $13.25-13.35   $13.40-13.50
  NORTH SEA BRENT CRUDE           $14.70-14.75   $14.61-14.66
  WEST TEXAS INTERMEDIATE CRUDE   $15.15-15.20   $15.30-15.35
  LIGHT LOUISIANA SWEET           $15.45-15.55   $15.60-15.65
  NORTH SEA BRENT, (IPE) MAR      $14.22         $14.31
             SPOT MARKET  (PER 100 GALLONS)
  UNLEADED GASOLINE (GULF)        $43.57-43.77   $42.96-43.06
  NO. 2 HEATING OIL (NY)          $54.05-54.25   $53.20-53.40
