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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (386)	7/20/2000 9:43:11 AM
From: edward miller	Read Replies (1) \| Respond to of 10065

If you think about the way the futures markets work then you have to realize that the big crude oil users, meaning the refineries, will buy futures contracts. That means what they get in May might have been fixed in price by their futures contract back when the going rate was - of all things $24. How amazing. Since this is now reflected in May pricing, we can also conclude that much of the surge in oil prices has yet to ripple into the economy. Expect CPI and PPI numbers to remain firm, if this is correct.

To: Investor2 who wrote (386)	7/20/2000 9:50:11 AM
From: Wally Mastroly	Respond to of 10065

I2, Re: .. average price ($24.42/barrel) of May oil imports... My guess (?) is that the average price stated is the price PAID for the oil imports RECEIVED in May and correlates to the average price of the oil PRODUCED in April (shown in your link below?). commoditiesfutures.com The referenced price appeared in a couple of news services. Of course, the original source of the value could have been reported incorrectly. I couldn't get the census data source links to open (to look at the raw oil price data) - so I gave up researching it. See ya, Wally M.