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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (75964)2/15/2000 6:30:00 PM
From: sammaster  Read Replies (1) of 132070
 
API OUT
by: JoeDi123 2/15/00 4:33 pm
Msg: 12162 of 12166
Crude down 2.574 million
Gas down 3.787 million
Heat dwon 1.185 million
Refineries operate at 86.6 vs 84.4
More in a minute

What the analyst were calling for.

On average, the report is expected to show that inventories of crude oil rose between 2 million and 3 million barrels as of the week ended Feb. 11, according to a Bridge News survey. Gasoline supplies are seen up 1 million to 2 million barrels. Distillate inventories, which took a 6 million barrel drop a week earlier, are expected to have fallen only 500,000 to 1 million barrels because of warmer temperatures in the Northeast during the period.

The market also expects that last week's rate of U.S. refinery production will be flat at 84.4 percent of up by as much as 0.5 percent, the survey said.


thoughts on oil?
drillers very volatile and move on rumor and news....
up for a bit then some bad rumor of selling US oil stocks or OPEC non compliance....then up when api shows decreasing stocks or members reiterate decreased production...
makes for nice trades and shortterm trend is up for now

samir
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