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Strategies & Market Trends : Commodities - The Coming Bull Market
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To: craig crawford who wrote (818)9/23/2001 8:23:25 PM
From: craig crawford  Read Replies (1) of 1643
 
Flagging Energy
"The market is going to get sloppy"
interactive.wsj.com

By Cheryl Strauss Einhorn

SEPTEMBER 24, 2001

He notes that energy companies were also active in the Nymex's electronic market Friday the week of the disaster, hoping to position themselves before the more liquid floor-trading resumed last Monday. In addition, this executive reports, producers' outlook is so bearish now that they were not only hedging a greater percentage of their expected output than usual -- they were also hedging "up through all of calendar year 2002." Companies may hedge 25% to 75% of their expected production for a particular year.
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New squeamishness about air travel is inevitable. Airlines consume about 8% of the world's oil in the form of jet fuel, which is considered a distillate -- or heavier fuel -- with a greater sulfur content than normal light, sweet crude.

Given that Delta Air Lines, American Airlines and other air carriers expect to cut their flight schedules by about 20%, jet fuel prices fell by more than 13% in the New York Harbor area in the past week.
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