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

To: R. Murphey who wrote (30714)	10/14/1998 7:31:00 PM
From: Gameboy	Respond to of 95453

API numbers show build in crude, draw on gasoline biz.yahoo.com Excerpt: Crude oil futures retreated ahead of weekly inventory figures from the American Petroleum Institute, which were expected to show continued gains in energy stockpiles. The API report, released after the close of trading, bore out their predictions. Crude oil stocks rose 8.220 million barrels last week to 327.351 million barrels. Gasoline stocks fell, however, dropping 7.023 million barrels to 198.954 million barrels. Refineries were operating at 87.5 percent of capacity last week, a bit lower than the 88.0 percent operation level the previous week. Investors noted cash prices in the U.S. Gulf region were falling sharply amid an abundance of competing foreign barrels, including those from the North Sea and Colombian Cusiana. Those heavy imports come after several storms rumbled through the area in the past few weeks, cutting imports by 22 percent from a week earlier but still leaving inventories nearly 4 percent higher than a year ago. The imports also were despite ongoing export problems from Nigeria, which is experiencing shipping delays because of local unrest.