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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (11709)	4/11/2004 10:59:13 AM
From: Square_Dealings	Read Replies (1) \| Respond to of 110194

Technical analysis of the charts for oil futures do not support your view. Crude is approaching a double top breakout at 38/bl futures.tradingcharts.com

To: Crimson Ghost who wrote (11709)	4/11/2004 12:30:47 PM
From: Square_Dealings	Read Replies (1) \| Respond to of 110194

PARIS, Apr 11, 2004 (AFX-Europe via COMTEX) -- PARIS (AFX) - China's demand for oil products, seen as one factor behind high oil prices in recent months, continues to exceed expectations, the International Energy Agency (IEA) reported on Friday. Apparent internal and external demand for refined products rose to a new high of 6.38 mln barrels per day in February, according to provisional data from China's National Bureau of Statistics. This increase accounts for most of the increase of world demand for oil products this year as estimated by the IEA. This provisional data shows that Chinese demand appeared to have surged by nearly 18 pct in the first quarter of 2004 from the equivalent figure in 2003, representing an increase of 900,000 barrels per day. The IEA said in its monthly report that it now expects growth of demand for oil to be 1.68 mln barrels per day in 2004, an increase of 30,000 barrels per day from its previous estimate in March.