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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: DavidG who wrote (38072)2/23/1999 7:37:00 PM
From: upanddown  Read Replies (1) of 95453
 
Expectations....
The API will release its latest weekly inventory and
production report later today. Eight analysts surveyed by
Bloomberg expect an increase in crude oil supplies of between
1.1 million barrels and 2.1 million barrels, and a decrease in
distillate supplies, which include heating oil, of between
1.3 million barrels and 2.1 million barrels.

Gasoline inventories were probably little changed last week,
amid mixed projections from analysts for a 200,000-barrel drop to
a 700,000-barrel rise, on average.

Crude came in at the high end of range. Gas is terrible, three times the high end. Not sure where the distillate number is but without a substantial decrease, this report will be interpreted as bearish. I'am sure I'll be derided as a nattering nabob, but at least spell it correctly.

John
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