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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (211)	6/13/2001 3:13:03 AM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Wednesday June 13, 2:51 am Eastern Time Oil Rises on Lower U.S. Crude Stocks biz.yahoo.com SINGAPORE (Reuters) - Oil prices raced higher in Asia on Wednesday after a sharp drop in U.S. crude stocks exacerbated lingering concerns of a halt in Iraqi crude exports. Benchmark NYMEX July crude futures in electronic trade rose to $29.58 a barrel at 2 a.m. EDT, up 40 cents from Tuesday's settlement in New York. The sharp gain was prompted by reports that U.S. crude stocks had posted their third largest weekly decline since at least 1984. According to a weekly inventory report from industry group American Petroleum Institute (API), U.S. crude stocks fell 13.2 million barrels to 312.2 million barrels in the week ended June 8. A Reuters poll of analysts and traders had earlier expected a moderate draw of three million barrels.