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

To: craig crawford who wrote (374)	6/28/2001 1:20:15 PM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Oil slips as gasoline demand declines Petroleum futures market waits on OPEC output signals marketwatch.com By Myra P. Saefong, CBS.MarketWatch.com Last Update: 12:30 PM ET June 28, 2001 NEW YORK (CBS.MW) -- Shares of most oil companies traded lower Thursday, as investors interpreted a rise in U.S. gasoline supplies as a sign that demand is on the decline. Indeed, gasoline supplies are now at 10-year highs, according to Paul Ting, industry analyst at Salomon Smith Barney. "Demand in the U.S. is falling," he said in a research note, affirming his belief that a "correction" in oil is not over. ......................................................................................................................... Meanwhile, gasoline futures prices turned higher by midday Thursday, after trading at their lowest levels in 17 months, as traders juxtaposed the latest U.S. supply data against OPEC expected decision on production levels next week. "What Iraq will do or what OPEC may do are the wild cards right now," Fimat energy analyst John Kilduff said in a daily note.