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: Roebear who wrote (89426)	3/29/2001 1:28:57 PM
From: BigBull	Read Replies (1) of 95453

THE TROUGH!!! or Why oil patch stocks will face selling pressure for at least 3 months. Most of the old timey threadsters on this board can read a map and understand the implications of these DOE charts: Aggregates and Crude - the seasonal trough is in. eia.doe.gov Distillates - the seasonal trough is very near. eia.doe.gov Gasoline: Still bullish until refiners get back to work. eia.doe.gov Product imports - Apparently slow world demand means availability. eia.doe.gov Imo the supply problem props keeping prices of crude in the mid/high 20's will be kicked out in the next three to six months. The last bullish prop is gasoline. Don't think that will be able to save the whole crude complex from forming an important top in the coming weeks. IMO NG problems will be eased considerably by a six month build in distillates. Frankly I don't see Crises '01 unless world economies turn on a dime or war in the ME. The cure for high energy prices is high energy prices.

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