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To: SargeK who wrote (40758)	3/24/1999 1:21:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

NEWS FLASH!! (Atlanta) A GSC Energy Corp trader was rushed to the hospital today to have his foot surgically removed from his mouth after making idiotic statements to Doomberg!! "I'm skeptical of the API number because it's not the driving season yet and yet they're saying demand is more than 9 million barrels,'' said Jason Chartrand, trader at GSC Energy Corp. in Atlanta. ''Sure, all year we've had pretty good demand, but the inventory decrease is because refineries'' have reduced output, he said." Even a novice like me can see products went down muchmore than crude went up. EIA numbers essentially confirm API - depletion accross the board. Padd V actually not down as much as average. ftp://ftp.eia.doe.gov/pub/oil_gas/petroleum/data_publications/gasoline_watch/current/txt/gassuply.txt

To: SargeK who wrote (40758)	3/25/1999 1:23:00 PM
From: Nello Filippone	Respond to of 95453

Sarge, Here's more even more evidence of the media's Bearish bias on Crude .... +MW 13:05 [CL=K9] MAY CRUDE OIL FALLS 0.2% TO $15.31 A BARREL AS MARKET TAKES DOWNTREND. .... Market takes downtrend!, pretty amazing considering that .2% is .03 cents. But more amazing is that at the time of this Headline Crude was actually in the 15.45 - 15.50 range (reatime quote). Nello

To: SargeK who wrote (40758)	3/25/1999 3:14:00 PM
From: Nello Filippone	Read Replies (2) \| Respond to of 95453

Sarge, Here's another one for the biased Doomberg reporting file. quote.bloomberg.com This part I love ... "This month's rally has stalled partly because traders have little news to look forward to until May, when the first reports on the producers' output cuts are issued." As I type we are only .25 cents away from an 8 month spot price high. This came out about 1/2 hour ago when Crude was up .12 cents .. I'm either looking at the wrong contract or these guys are high. N.Y. Crude Oil Falls as Countries Seen Breaking Pledges to Cut Production Crude Oil Falls as Exporters Seen Producing More (Update1) (Updates prices, adds background in final 2 paragraphs.) New York, March 25 (Bloomberg) -- Crude oil fell for a third day amid speculation that a 25 percent rally this month will entice producers to break commitments to cut world supply. ''The greed factor may come in immediately,'' said Chester Irvin, a trader at ABN Amro Inc. in New York. Prices could keep falling ''until we see whether they are sticking to their promises.'' The Organization of Petroleum Exporting Countries, together with other producers, agreed to cut supplies by 2.1 million barrels a day, or 2.7 percent, adding to pledges totaling 3.2 million barrels a day last year. OPEC's compliance with earlier cuts has been below 83 percent since December, when prices fell to a 12-year low. May crude oil fell as much as 20 cents, or 1.3 percent, to $15.14 a barrel on the New York Mercantile Exchange. The contract was recently 10 cents lower at $15.24 a barrel. In London, May Brent fell as much as 24 cents, or 1.8 percent, to $13.44 a barrel on the International Petroleum Exchange. Crude oil prices in New York have surged more than 50 percent from the 12-year low of $10.35 a barrel set in December. This month's rally has stalled partly because traders have little news to look forward to until May, when the first reports on the producers' output cuts are issued. OPEC, which produces two-fifths of the world's oil, intends to meet its latest round of cutbacks by the end of May. The cuts start in April. © Copyright 1999, Bloomberg L.P. All Rights Reserved Nello