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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (78855)	9/25/2006 8:18:43 PM
From: Hope Praytochange	Respond to of 173976

Energy markets showing continued weakness: November crude oil opened last week at $64.25 per barrel and closed the week at $60.55. November unleaded gas opened at $1.6050 per gallon and closed at $1.5151. Nov. heating oil opened last week at $1.7775 and closed the week at $1.6929. November natural gas opened the week at $6.2000 per mBtu and closed the week at $5.8810. All of these markets are deep in oversold territory, but all are also showing high Average Directional Index numbers (ADX), which show the downtrend is very strong. Fundamentally we are seeing news that will probably pull down prices next week. Take a look at the COT graphs on the weekly charts below. Be aware that the oil companies have a large supply of summer blend, which cannot be stored. This is something they need to sell off as they prepare to produce winter blend supplies.