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: Wowzer who wrote (67353)	5/31/2000 6:28:00 PM
From: BigBull	Read Replies (1) of 95453

Rory. Ok the confusion is cleared on the API's. Friday to Friday, only. The numbers do NOT include the Memorial day weekend, and therein provides quite a tale. THE story in the numbers is GASOLINE. Gasoline stocks down big IN SPITE of: 1. Increasing refinery run rates. 2. Increasing imports (from an already high level). 3. Holiday traffic NOT included. The 90 mbpd implied demand strongly suggests the driving season got started before Memorial day. This strongly implies verrrrry strong traffic over the extended weekend. Gasoline stocks should do an El Plunjo Diveroosky in next weeks numbers. Barring a miracle, Gasoline stocks WILL plunge below the DOE's lower operational range this summer. Maybe sooner than I thought. That may begin to induce hoarding as word gets out. Seems as though the seasonal crude build may be ending and rolling over as refiners furiously make product. It will be verrrrrry interesting to see if aggregate stocks roll over as well. Spike to $40 a barrel? We shall see. Bull

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