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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (96576)	4/19/2001 7:52:29 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

Gasoline futures hit a 9 month high, refining margins are exploding: quote.bloomberg.com Gasoline for May delivery rose 0.81 cent to $1.0686 a gallon on the Nymex, closing at a nine-month high for the fifth time in the past seven sessions. Prices are up 36 percent this year. Futures represent wholesale prices. ``Gasoline supplies are still too low,'' said Phil Flynn, vice president and senior market analyst at Alaron Trading Corp. in Chicago. ``Prices on the Nymex will easily exceed $1.11 before Memorial Day, exceeding last summer's high.'' Prices rose partly because of an unexpected shutdown of a unit at Valero Energy Corp.'s Corpus Christi, Texas, refinery. The company didn't say when the unit would return to service. ``It's a thinly supplied, nervous market, and any problem with a refinery is going to boost prices,'' said John Kilduff, senior vice president of energy risk management at Fimat USA Inc. in New York. High Profit Margins The steeper rally in gasoline compared with crude oil this year has left refinery profit margins high, and will entice refiners to boost motor-fuel production, analysts said. Gasoline is now worth about $17 a barrel more than the cost of crude oil, up from about $2.50 in mid-December, based on futures prices. Refiners have a license to print money now...with no end in sight.<NG>