BP term ANS price rise slows

Kristen Nelson

BP Amoco’s term price for Alaska North Slope crude for April is $28.06 a barrel, up 37 cents (1.34 percent) from March’s price of $27.69. In recent months changes in the term price have ranged from 4 percent to 15 percent.

This is the smallest month-to-month change in the term price since a 2 cent per barrel rise last July.

The term price hit $9.37 a barrel in January 1999 and has risen in 13 of the 15 months since. The current term price is the highest term price (in non-inflation-adjusted dollars) since December of 1990, when it stood at $28.74 a barrel.

The year-to-date average term price is $26.51. The comparable average in 1999 was $10.93.

BP is the largest producer of ANS crude and the only one to post term prices.