U.S. COURT UPHOLDS APEX DECISION FAVORING NYMEX The U.S. Court of Appeals for the Second Circuit upheld a lower court decision dismissing a suit by Apex Oil Co against the New York Mercantile Exchange and several oil companies. The Court, however, ruled that Apex Oil could pursue anititrust and commodities market manipulation allegations against Belcher Oil Co, a unit of Coastal Corp <CGP>. Apex Oil, primarily a trading company, charged that several companies, including Belcher, and NYMEX conspired to force it to deliver heating oil it had sold on the mercantile exchange, knowing Apex could not make full delivery. The NYMEX ordered Apex to deliver four mln barrels of heating oil sold via a February 1982 heating oil contract. Apex eventually fulfilled this obligation but claimed damages. Richard Wiener, attorney for Apex at Cadwalader Wickersham and Taft, said the company has not yet decided whether to pursue its case against Belcher Oil. The NYMEX, meanwhile, has a counterclaim pending against Apex Oil, seeking an unspecified amount of attorney's fees and 15 mln dlrs in punitive damages, according to a NYMEX spokeswoman.