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

To: Roebear who wrote (74668)	9/26/2000 12:34:49 PM
From: Think4Yourself	Respond to of 95453

Here's the latest rocket science from the bears: quote.bloomberg.com U.S. supplies of heating oil held by refiners are 35 percent below year-earlier levels, the American Petroleum Institute said last week. The shortfall may signal that retail suppliers are purchasing the fuel from refiners now, rather than waiting for the cold weather to set in, traders said. ``The problem with the API is that it only captures primary storage at refineries, not secondary storage'' in regional depots, said Aaron Kildow, an energy analyst at Prudential Securities in New York. ``Distributors were really scared over the past few weeks and purchased heating oil at high prices and put it into storage.'' x x x Let's see if I get this straight. I am a distributor who has been expecting HO prices to fall all summer. I have been selling from my stores for the past 5 months expecting to replenish them in mid summer. Now that summer is over and prices are sky high, I not only replaced my stores to normal levels, I overstocked at the sky high prices. Because I bought lot's more HO, at sky high prices, than I normally do now the low refinery stocks are no cause for concern