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To: patron_anejo_por_favor who wrote (99394)	5/3/2001 3:52:57 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

yuuk!! I need to buy one of those, I think ...

To: patron_anejo_por_favor who wrote (99394)	5/3/2001 4:43:12 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

note: the API's weren't really the main factor behind the decline on the continuous contract chart. rather, it was the switching from May to June contracts. since supplies are tight, all energy related contracts remain in backwardation. one week of somewhat bearish inventory data does little to dent the bigger picture.

To: patron_anejo_por_favor who wrote (99394)	5/3/2001 5:24:42 PM
From: Archie Meeties	Read Replies (1) \| Respond to of 436258

Crude's strength is unusual - I've heard different reasons for it, such as increasing discipline from OPEC beginning in April, but nothing really satisfactory. I'm hedged the oil service co's I have by selling some crude today. DOE charts have me sketched out. eia.doe.gov From the looks of the builds recently, its Game Theory 1, OPEC 0. If this continues, the trading perspective on oil is about to shift to favor sellers. Already the guiding question is "how big are the builds", not "how small". While business from the majors deosn't change much if oil is $24 or $28 dollars, there's usually a sh*t load of selling when crude reverses - on the fear that the OSX cycle is finished. BTW, if crude really reverses and the bond market rejoices, I think a good case for a more up can be made.