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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tomas who wrote (52091)9/29/1999 9:53:00 AM
From: Tomas  Read Replies (1) of 95453
 
The API numbers: The underlying picture was even tighter because a slight rise in isolated West Coast stocks boosted the headline figure and masked a whopping 6.4 million barrel drop in key reserves east of the Rockies.

U.S. stockpiles have now drained down to 305 million barrels -- and analysts said there was nothing to stop them breaking below 300 million barrels, a level not seen since early 1997 when oil cost more than $26 a barrel.

Strategic reserves. Note the name. They are not going to clear out the pantry just because prices look a bit high.'

From biz.yahoo.com
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