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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Tomas who wrote (27500)	11/28/2003 11:38:29 AM
From: russwinter	Read Replies (1) of 206181

RJ partly attributes the big spike (to $2.50 bbl) in tanker rates (Persian Gulf to GOM) to "higher insurance rates due to concerns over recent attacks in Saudi Arabia." I just don't think that's the correct conclusion. The real reason is the frantic scramble that's on for virtually all key commodities and the lack of available shipping. Most of the incremental demand is out of Asia. Current freight rates in general: quote.bloomberg.com Secondly, look how total US petroleum inventories has edged down for four straight weeks. Historically, this week 42-47 period should be at worst flat, or even increasing a bit.

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