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

To: Harold S. who wrote (30197)	9/30/1998 11:49:00 AM
From: Gameboy	Read Replies (2) \| Respond to of 95453

US Dept of Energy, EIA weekly update eia.doe.gov go to Crude Oil Watch September 30, 1998 •U.S. crude oil inventory posted a small gain last week. Crude stocks are now 319.5 million barrels (MMB) as a result of 9.1 million barrels per day (MMBD) imported ahead of Hurricane Georges, and lower crude input. PADD III refiners boosted their throughput by 0.1 MMBD to 7.0 MMBD but refiners in PADDs I, II, and V each cut theirs for maintenance. PADD IV refiners raised input slightly. A brief respite in weather allowed crude oil imports to Gulf Coast ports to increase to a more normal 6.3 MMBD after the previous three weeks' respective 5.2, 5.4 and 4.2 MMBD. •Both spot and contract prices jumped this week with the WTI-Cushing spot price showing the least rise, of $0.27 to $15.80 per barrel while Brent spot rose $0.63 to $14.55. Contract prices gained considerably as the U.S. moved up $1.36 to $13.91 per barrel and the OPEC basket rose by $1.20 to $12.56. Contributing factors were perceptions that crude supply cuts were being observed, weather that affected both Gulf production and U.S. imports, and lower crude stocks reported last week.