Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: BigBull who wrote (59904)	2/7/2000 7:58:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Bridge API guesses from RIG Yahoo Forecast change Previous week (Jan 28) Crude oil Up 1.0-2.0 mln bbls 281.165 million barrels Gasoline Up 1.5-2.0 mln bbls 200.178 million barrels Distillates Down 4.0-5.0 mln bbls 112.268 million barrels Refineries Up 0.5-1.0 basis pts 87.7% of capacity Bridge is probably moving up to Monday to beat Bloomburg. Question now is which one sets the bar. Last week they were quite different. Bloomburg Bridge Crude -.300 to +.600 +1.5 to +2.5 Gas +1.0 to +2.0 +2.0 to +3.0 Dist -3.6 to -4.7 -5.0 to -6.0 Guesses this week look like last week. Crude, gas and utilization up and heating oil down. When are these guys gonna learn?<vbg> John

To: BigBull who wrote (59904)	2/7/2000 10:19:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Bull Looks like OII missed by a penny biz.yahoo.com If it is taken out and shot, I may let it go and get back in lower if we get some silly over-reaction. Really like it LT. What do you think? John

To: BigBull who wrote (59904)	2/8/2000 2:24:00 PM
From: SargeK	Respond to of 95453

The base case trajectory for oil prices implies monthly West Texas Intermediate (WTI) spot prices above $22 through 2001. February 2000 Highlights DOE International Oil Markets Prices. Note: The benchmark crude oil value referred to in this report, the average cost per barrel of crude oil imported into the United States and delivered to U.S. refiners, is a broad gauge of international oil costs. Its relation to the oft-cited West Texas Intermediate (WTI), which is the benchmark crude for the U.S. (NYMEX) crude futures market, is that spot WTI is generally $2.00 above the imported cost. We have raised our world oil price projection by about $2 per barrel for this month because of assumed greater compliance by OPEC to targeted cuts, especially for the second quarter of 2000. The expected decline in world petroleum inventories continues, and, given the generally stiff resolve of OPEC members to maintain production cuts, any sign of a turnaround in stocks may be postponed until later this year than previously assumed (Q3 instead of Q2). Our current estimate for the average refiner cost of imported oil this past January is now $25 per barrel, a nearly $15-per-barrel increase from January 1999. Crude oil prices are expected to remain at relatively high levels for the first half of 2000, but should gradually recede if OPEC expands production as assumed. Average U.S. refiner import costs under our base case assumptions would be $24.21 per barrel in 2000 and $21.36 next year. The base case trajectory for oil prices implies monthly West Texas Intermediate (WTI) spot prices above $22 through 2001. A chance for a break in the price pressure comes with an expected increase in world demand of only 1.2 million barrels per day this year. Otherwise, current (relatively high) price levels may persist longer than indicated in the base case. The upper bound of our uncertainty range for crude oil prices suggests the extent of our take on upside price risk. eia.doe.gov