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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who started this subject9/11/2004 3:50:03 PM
From: russwinter  Read Replies (1) of 110194
 
Simmons on GOM hurricane inpacts. Would have to head somewhat west of current track,
nhc.noaa.gov
towards Mobile, Pasguala,MS. or worse New Orleans, Baton Rouge.
simmonsco-intl.com

Ivan Could Be Terrible For Gulf Coast Refiners
09.09.04, 2:59 PM ET




Prudential Equity Group reiterated an "unfavorable" rating on the refiners sector, citing potential production disruptions in the Caribbean caused by Hurricane Ivan. The firm is maintaining "underweight" ratings on Frontier Oil (nyse: FTO - news - people ), with a target price of $17; Sunoco (nyse: SUN - news - people ), with a target price of $52; and Valero Energy (nyse: VLO - news - people ), with a target price of $55. "Hurricane Ivan has caused two major refineries in the Caribbean to reduce production and could potentially disrupt U.S. Gulf Coast refining production," Prudential said. "We expect underlying refined product demand to be difficult to track over the next several weeks given our expectation of secondary and tertiary inventory stocking due to concerns over potential supply disruptions." Prudential expects the lost production from the two refineries to be limited to a few days, assuming the current hurricane path doesn't change.
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