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Gold/Mining/Energy : Ensco International Inc. (ESV)
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To: G. H. who wrote (1376)7/13/1998 8:09:00 PM
From: skibob  Read Replies (2) of 2005
 
IMHO,
With US crude inventories beginning to decline slightly I expect to see some small increased in oil prices starting in September. This is the time of year that we typically see pre-winter heating fuel purchases by the general public. This would be in the form of heating oil and propane. Following the pre-winter purchases there usually is a lull in sales until the crop drying season starts. If crops are fairly dry at the time of harvest on a national average then fuel sales can continue to lag until the first cold spell. At that time prices can receive a boost but may be short lived if the weather is short lived and lacks severity. These may be the only opportunities we see in the short term for some reasonable gains. If winter stays mild on a national level I'm afraid we may be in for a longer haul for oil price recovery. Again, this is my opinion only and is not based on any specific information. Good luck to all!

skibob
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