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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (44476)5/11/1999 11:49:00 AM
From: Gary Burton  Read Replies (2) of 95453
 
Bear Stearns May 10---"rising inventory levels reported last week indicate the start of our projected inventory build through May as Middle East exports prior to the Apr 1st production cuts arrive in the U.S. Also contributions to the inv build is an increase in NS imports as producers have taken advantage of the WTI Brent spread...The most significant inv ramp up is expected to occur from mid-May into the of the month.The first week of June continues to show a decline in imports as the impact of ME cuts are reflected in lower imports..In this environment of building inventories and weak margins, we may see a temp retreat in commodity prices.." I still think crude is heading towards 16ish
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