Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: The Ox who wrote (66633)	5/19/2000 12:59:00 PM
From: The Ox	Read Replies (1) of 95453

Updated Fri May 19 11:45 ET NYMEX Oil: Crude lower as gasoline falls on waiver concerns By Peter Rosenthal, BridgeNews New York--May 19--NYMEX crude oil futures fell sharply and gasoline dropped as much as 383 points on concerns that U.S. authorities would allow the sale of conventional gasoline if supplies of cleaner-burning reformulated fuels run dry. At 1130 ET, Jun crude was down 38 cents at $29.95 per barrel. Jun gasoline was down 213 points at 96.90c per gallon, while Jun heating oil rose 53 points to 80.40c. * * * However, there is no new waiver mechanism and agencies are watching the issue on a regional market basis as retail stations stock up with phase 2 summer reformulated gasoline by the June 1 deadline. The only current supply issue is in St. Louis, where waivers were granted for the third time on Thursday to offset shortages of reformulated gasoline created by the Explorer pipe line problems earlier this year. And government officials said inventories appear sufficient in markets outside some Midwest cities.

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