The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ajtj99 who wrote (193308)	3/25/2009 4:59:38 PM
From: Galirayo	Read Replies (1) of 306849

Since the Weighting of the SPX is heavily tilted with the Oil Producers and Service Co.'s .... I think they will lead us ""Down"" now. 16 Year High Water Mark .. Crude Oil Falls After U.S. Supplies Climb to Highest Since 1993 By Mark Shenk March 25 (Bloomberg) -- Crude oil fell more than $1 a barrel after a government report showed that U.S. inventories climbed to the highest since 1993 because of falling demand. Supplies rose 3.3 million barrels to 356.6 million last week, the Energy Department said today. Inventories were forecast to increase by 1.1 million barrels, according to a Bloomberg News survey. Stockpiles of gasoline and distillate fuel, a category that includes heating oil and diesel, dropped as refineries cut operating rates. “There’s more crude than we need,” said Chip Hodge, a managing director at MFC Global Investment Management in Boston, who oversees a $9 billion natural-resource-company bond portfolio. “Until demand starts to move higher I don’t see this market moving higher.” bloomberg.com

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