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To: Crimson Ghost who wrote (30210)	9/30/1998 4:58:00 PM
From: upanddown	Read Replies (2) \| Respond to of 95453

George Ugly today but I see brighter days ahead. Crude is at its highest point in months and I was really impressed with its strength today in the face of much adversity. The market took a nasty fall but must have been concentrated in the big-caps because the closing tick was a rather bullish +660. Surprised that the OSX and OIX faded at the close but if crude holds its gains and the market stabilizes, we should rally nicely. Not sure about prospects thru year-end but good trading opportunities here. Best, John

To: Crimson Ghost who wrote (30210)	9/30/1998 6:01:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

George, One monthly report doth not a trend make- either upward or downward. If we had three or four months in a row of increasing inventories, then to me a trend is established. The NO Area refineries which total 1.5 mm/bbls/day of crude usage were shuttered 2-3 days with Hurricane Georges. My guess is that lower refinery usage(and freighters lightering early to beat the storm) accounted for the inventory uptick. let's see what next month brings.... Sincerely, Doug F.