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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (24789)	10/31/2002 6:33:48 AM
From: maceng2	Respond to of 74559

US not yet building up stocks of heating oil news.ft.com With winter on its way, the US's failure to start building up heating oil supplies raised a few eyebrows on Wednesday, with the release of two sets of inventory data showing that heating oil stocks had fallen. With demand expected to build as the northern hemisphere winter approaches, the American Petroleum Institute (API) reported on Tuesday night that US stocks had fallen by 1.3m barrels in the week ending last Friday. This left them about 600,000 barrels above their levels a ago. But on Wednesday the Energy Information Administration (EIA) came in with a more dramatic estimate, calculating that heating oil stocks had fallen by a hefty 2.2m barrels. "Incredibly, US heating oil inventories are now lower than they were at the start of August. A normal seasonal build would imply a rise of 8m barrels. Instead there has been no upwards momentum at all," said Peter Beutel at Cameron Hanover. He argues that the situation "has reached criticality". The EIA reported a 900,000 barrel rise in crude oil stocks, painting a tighter inventory picture than the API, which had reflected a 1.7m barrel increase. The EIA data gave oil futures a temporary boost, but they failed to sustain their gains. In London IPE December Brent was off just 1 cent at $25.30 a barrel. By the close in New York Nymex December WTI was 5 cents lower at $26.81 a barrel. Spot gold fixed at $316.55 a troy ounce on Wednesday afternoon in London, 60 cents below the previous afternoon fixing, as firmer share prices slowed the metal's momentum a little. Still, after the release of bleak US and UK consumer confidence data over the past two days, analysts thought the metal could find continued support in the short term.

To: maceng2 who wrote (24789)	10/31/2002 6:39:43 AM
From: Snowshoe	Respond to of 74559

The most important factor for Alaskan fishers is they have nice clean water and lots of natural wild fish, and a natural environment to feed in. That is an ace card at some time in the future. That reminds me that sooner or later I want to check out the feasibility of buying Alaskan fishing permits as an investment, given that the prices are really in the dumpster now. This is a somewhat obscure market, so one would have to be pretty careful. We recently had a case where a fish permit broker took a rather large amount of other people's money and lost it to one of those Nigerian email scams!