Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: Buzz Mills who wrote (236)	12/27/1996 12:11:00 PM
From: Buzz Mills	of 1017

Weekly Oil Report>>>>Crude-oil and petroleum-products futures were higher Friday on the New York Mercantile Exchange after the release of bullish inventory data late Thursday. Meanwhile, natural gas futures continued their downward correction. The American Petroleum Institute said Thursday crude oil stocks plummeted 5.163 million barrels to 292.868 million barrels in the week ended Dec. 20, a bigger drop than expected by even the most bullish of market players. Meanwhile, the U.S. Department of Energy reported an even larger crude drawdown of 6.1 million barrels. Both the API and the DOE had delayed their weekly data due to the Christmas holiday.<<<< The "Spot Price" of oil is back over $26 per barrel. >>>>Shortly before noon EST, February crude oil was up 36 cents to trade at $25.28 a barrel.<<<< Natural Gas prices continue to decline; the Spot Price should be around $3.50. >>> February natural gas tumbled 35.4 cents to $3.030 per million BTUs, after losing more than 32 cents Thursday. The complex remained weak amid forecasts for mild weather next week, traders said.<<< CWEI received $21.19 for oil in the third quarter and $2.62 for gas. CWEI is now trading at Bid 17 5/8 X Ask 17 7/8; we are in record territory

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