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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Shelia Jones who wrote (18743)	4/10/1998 10:38:00 PM
From: drsvelte	Read Replies (1) \| Respond to of 95453

Reposted from AOL: Subject: Re: wti/cushing Date: Fri, Apr 10, 1998 12:07 EDT From: JJ VET Message-id: <1998041016071101.MAA02392@ladder03.news.aol.com> knight-ridder ran a story thursday, cushing storage filling up. padd 2 crude stocks built 2 million bbls this past week and not much room left. may/jun spread hanging in there at carrying cost (cost of storage and cost of capital), june/july at -.32/bbl close to this level already. not a bullish scenario... huge gas imports keeping a lid on unleaded, and if we don't get gas season draws starting up soon, could see further move south on the entire energy complex. crude was above 15.70 thursday, but when gas went into negative territory it came off its highs. while crude fundamentals are bearish, gas may help put a floor in. but i have to agree that crude will at least test its lows over the next few months.