PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (697184)	8/18/2005 4:09:50 AM
From: Hope Praytochange	Read Replies (1) of 769667

Energies: kennyoilscalper Crude plunged today following DOE reports showing refineries have sufficient supplies to make gasoline for the rest of summer. September Crude (CLU5) dropped $2,83 to $63,25/bbl at the close of the NYMEX regular session after an initial failure to gather momentum following the inventory figures. Gasoline inventories showed a decrease of 4,97 million barrels while crude inventories increased by 241,000 barrels. The larger-than-expected stock draw in gasoline failed to push prices higher and fund liquidation quickly set in. Further long liquidation is likely to set in with the next support coming in at $60. September WTI opened today's electronic session in $63.33 a barrel, traded $62.80 low, currently trading around $63.40.

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