Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (329)	10/29/2000 7:30:55 PM
From: kormac	Read Replies (1) of 74559

26-Oct-00, API announced that in the most recent reporting period, the week prior, that there appeared to be about 1MM excess of supply over demand. Barring market manipulation for political purposes, etc., or an exceptional cold snap in the northern latitudes, we shall see the spot price of oil declining fairly quickly to the high $20's. Ray, we are in the shoulder season. We ought to have a build for now. Refineries are doing yearly maintenance. best Seppo

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