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

To: ild who wrote (18060)	8/25/2004 4:35:27 PM
From: ild	Respond to of 110194

Points to take home, IMHO: (1) CL production in the US last week was 5.1 mmbbl/d, the lowest I can remember seeing, during the week when the CL price was the highest ever. I am curious whether there will be a "crash" in domestic production if CL prices go down substantially - folks are evidently pumping wells that were idle pretty hard and are already seeing production fall off - at some point those wells will have to rest again? (2) Why is distallate demand (fuel oil) so high (up 7%) if natural gas is so much cheaper? (3) The US imported at least 12 mmbbl/d last week of CL and product - will that continue given the fall in VLCC rates that have been noted? finance.messages.yahoo.com