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

To: Linkdog who wrote (42788)	4/20/1999 5:47:00 PM
From: Fitz	Read Replies (1) \| Respond to of 95453

Weekly API Stats Summary Sheet Futures World News - April 20, 1999 17:21 Washington-April 20-FWN--The following is a summary of closely watched weekly American Petroleum Institute data. GASOLINE STOCKS PADD April 16 April 9 1 (East) 64,257 65,656 2 (Midwest) 55,236 56,015 3 (Gulf) 64,470 63,311 4 (Mountain) 7,097 7,247 5 (West) 27,694 26,550 TOTAL U.S. 218,754 218,779 DISTILLATE STOCKS PADD April 16 April 9 1 51,510 51,637 2 32,201 32,076 3 30,302 32,518 4 2,689 2,810 5 12,332 12,450 TOTAL U.S. 129,034 131,491 CRUDE OIL STOCKS PADD April 16 April 9 1 17,079 18,352 2 70,898 73,362 3 176,875 174,753 4 13,220 13,107 5 62,558 63,111 TOTAL U.S. 340,630 342,685 JET/KEROSENE STOCKS PADD April 16 April 9 1 11,531 11,387 2 8,495 8,422 3 15,863 14,425 4 802 753 5 7,992 7,865 TOTAL U.S. 44,683 42,852 PERCENT REFINING CAPACITY PADD April 16 April 9 1 94.2 93.1 2 97.6 98.6 3 101.8 100.2 4 89.0 91.3 5 89.1 89.5 TOTAL U.S. 97.3 96.8 (Stocks data is in thousands of barrels) * = Revisions to last week's numbers.

To: Linkdog who wrote (42788)	4/20/1999 5:58:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

Yet another brick in the Wall Of Worry Whew! Still they don't believe! Thank God. If I hear one more time Oils gone up to far too fast from a jerk who was wrong the whole way up I'll, I'll, well I'll just SCREAM! Energy News Tue, 20 Apr 1999, 5:51pm EDT N.Y. Crude Steady After Topping $18/Bbl for First Time Since January '98 Crude Oil Little Changed After Brief Rally Over $18/Barrel New York, April 20 (Bloomberg) -- Crude oil was little changed, retreating from an early 16-month high above $18 a barrel, as traders awaited evidence that producers are following through on an agreement to reduce excess supply. Though OPEC says its members are cutting output, traders still need evidence of lower world supply to sustain a 56 percent rally since mid-February. The American Petroleum Institute may provide that evidence in an inventory report later today. ''I think we all agree that OPEC has done a lot to change the nature of the market, but $18 is pretty overdone,'' said Chris Schachte, a trader at GSC Energy Corp. in Atlanta. Crude oil for May delivery fell 2 cents to $17.78 a barrel on the New York Mercantile Exchange on its last day of trading, after rising 35 cents to $18.15, the highest intraday price for a contract closest to expiration since Dec. 29, 1997. The most- active June contract fell 15 cents to $17.48 a barrel. In London, June Brent crude oil fell 22 cents to $15.70 a barrel on the International Petroleum Exchange. Analysts in a Bloomberg forecast said the API report should show that U.S. crude inventories fell by between 600,000 barrels and 1.7 million barrels last week from 343.2 million barrels as refiners sped up processing after completing seasonal maintenance and repairs. Stocks last week were 5.6 million barrels higher than a year earlier. ''The inventory numbers don't warrant higher prices. I can't believe The API statistics will be bullish enough to keep prices this high,'' Tom Bentz, senior vice president-energy at Cresvale International LLC in New York, said during morning trading. Inventories of distillate fuel, including heating oil, probably rose, while gasoline supplies were little changed, according to the survey. ''We're calling for (inventory) builds in both products, so we're expecting bearish numbers'' from the API report, said Schachte. Gasoline for May delivery fell 1.03 cents, or 1.9 percent, to 52.41 cents a gallon on the Nymex while May heating oil fell 1.01 cents, or 2.3 percent, to 42.69 cents a gallon. The recent rally in oil prices has also been propped up by refinery outages that pushed retail gasoline prices higher. Yet the Department of Energy reported yesterday that average national retail gasoline prices fell last week for the first time in eight weeks. The Californian Energy Commission reported today that prices there fell 3 cents in the past week to $1.594 cents a gallon, a sign the rally has petered out. California is the nation's biggest gasoline-consuming state. -------------------------------------------------------------------------------- © Copyright 1999, Bloomberg L.P. All Rights Reserved.