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To: Ken98 who wrote (25601)	10/7/2000 1:50:39 AM
From: patron_anejo_por_favor	Respond to of 436258

<<My take on it was that the announcement was bumped up to thwart any uptick in price resulting from the press coverage about them having trouble moving the juice.>> Could be, frankly I haven't read in much detail on the SPR release at this point. It had the expected (negative) effect on the crude market, with reduced near term contract pricing and blunted backwardation. In the intermediate term, it won't have much effect on distillate output or prices, for reasons we've discussed. I'm sure it was handled in the way thought to be most beneficial to Gore's campaign, but that's to be expected. Since US refinery output is maxed out, reports are the Morgan Stanley (?!!) actually successfully bid on 2 million barrels...to send to Japan. Way to use those precious strategic resources, guys!