Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (6142)	1/23/2002 7:53:41 AM
From: Tomas	Respond to of 206200

API estimates by nine analysts in a Bloomberg survey Crude +0.6 to +1.2 million barrels Gasoline +0.8 to +1.2 Distillates -1.3 to -1.7 Refineries last week probably slowed production by 0.6 percentage point from a 10-month low of 89.4 percent of capacity the previous week, the survey showed. ``Refinery runs are low and should move lower, which has reduced crude oil demand,'' said Tim Evans, senior energy analyst at IFR Pegasus in New York. ``We just don't know how far refinery runs will drop.'' Refiners typically begin seasonal maintenance programs, known as turnarounds, in late January and early February. The shutdowns allow the companies to retool units to make more gasoline for the summer, when demand reaches its annual peak. ``Refining margins are terrible right now,'' said Bill O'Grady, director of fundamental futures research at A.G. Edwards & Sons Inc. in St. Louis. ``We could have a big turnaround season this year.'' The income for a refiner selling heating oil and gasoline is about $3.90 a barrel above the cost of crude oil, according to futures market prices. That's down 38 percent from about $7.75 a barrel a year ago.