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Strategies & Market Trends : Commodities - The Coming Bull Market
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To: craig crawford who wrote (351)6/27/2001 6:38:15 AM
From: craig crawford  Read Replies (1) of 1643
 
5:05pm 06/26/01 Gasoline stocks up for 5th-straight week

By Myra P. Saefong

Gasoline futures prices fell under 77 cents a gallon in after-hours trading Tuesday after the American Petroleum Institute reported that inventories of the commodity rose by 3.3 million barrels during the week ended June 22. The data marked the fifth-weekly climb in gasoline inventories and came despite a fall in refinery production rates to 94.2 percent of capacity from last week's 95 percent. A Bridge News survey pegged the average estimate for gasoline stocks at a rise of 1 million to 3.1 million barrels. Last week's crude inventories also rose by 565,000 barrels, the API said. On average, analysts polled by Bridge News predicted that crude inventories either dropped by as much as 2 million barrels because of lower imports or rose by as much as 4 million due to uncounted barrels. Distillates, which include heating oil, climbed by 2.2 million barrels, compared to expectations for a rise of 700,000 barrels to 2.2 million barrels. In after hours trading shortly after the data were released, July unleaded gasoline fell 1.19 cents to 76.60 cents a gallon. August crude slipped 19 cents to $26.79 a barrel. July heating oil eased by 0.49 cent to 72.70 cents a gallon.
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