So much for the great "inventory decline" peril.

http://207.61.18.124/futures/quote/1CL.html LINK http://207.61.18.124/futures/quote/1HU.html

-- cpr (buytexas@swbell.net), August 03, 2000

Answers

But PD "Rocks": http://futures.tradingcharts.com/chart/PA/90

-- cpr (buytexas@swbell.net), August 03, 2000.

Why did cpr cross the road?

-- Black Adder (BlackAdder@sting.com), August 03, 2000.

To flip a coin: heads you lose, tails I win.

-- cpr (buytexas@swbell.net), August 03, 2000.

Because he had his dick stuck in the chicken!

You can tell when this happens when he uses all caps.

He only has one hand free and can't hit the shift key.

Here's cpr's explanation.

----------------------------- SORRY ABOUT THE CAPS FOLKS. WHEN SOMEONE GETS ME RILED UP I LIKE TO JERK MYSELF AND IMAGINE REAMING THEM UP THE REAR. I ONLY HAVE ONE HAND AVAILABLE TO TYPE SO I CAN'T HOLD THE SHIFT KEY AND IT IS EASIER TO USE CAPS LOCK. THAT DAMN SHAKEY REALLY GETS ME WORKED UP AND I'D LIKE TO MAKE HIM SQUEAL LIKE A PIG. WHEEEEE! WHEEEEEE!! WHEEEE!

OH! OHH! OHHHH! GOTTA GO!!!

-- cpr (buytexas@swbell.net), August 02, 2000.

-- Black Adder (BlackAdder@sting.com), August 03, 2000.

That was Black Subtractor not MOI. BTW: Poor old GOLD..............Gareee's favorite is having a very bad hair day:

http://www.kitco.com/market/

-- cpr (buytexas@swbell.net), August 03, 2000.

Charlie,

Oil is up $1.30 today. Maybe the spigots are wide open.

-- Cave Man (caves@are.us), August 04, 2000.

LOLOL yeah right, they just decided to turn the taps off in January and now they feel sorry for us so they are turning them on! Nothing to do with Y2K! lolol

-- (nice@try.creep), August 04, 2000.

Monday and Tuesday after the OPEC traders have sold enough at 30, you will get another announcement and the price of crude will resume its downward trend.

SUCKERS.

-- cpr (buytexas@swbell.net), August 05, 2000.

Charlie, Where's that Saudi Oil???

Thursday August 10, 4:22 pm Eastern Time Note: this article has been superseded by a later article.

NYMEX oil ends sharply up on supply worries, Saudi move

NEW YORK, Aug 10 (Reuters) - NYMEX crude oil futures settled sharply higher Thursday, despite a late bout of selling, on worries over scant supplies and reduced shipments to oil majors seen from OPEC kingpin Saudi Arabia.

September crude settled at $31.34, soaring 99 cents on the day and pushing gains in the past two days to $2.22 amid inventories falling to their lowest in 24 years.

The contract climbed to an intraday peak of $31.52 and traded as low as $30.27.

Bullish gasoline futures trimmed their gains after Exxon Mobil (NYSE:XOM - news), the No. 1 U.S. oil company, denied rumours of an outage at its giant 480,000 barrels per day (bpd) refinery in Baton Rouge, La. The company said all operations were normal at the facility.

September gasoline settled at 92.64 cents a gallon, jumping 4.44 cents on the day. It vaulted to an intraday high of 93.00 cents, up 4.80 cents, as market talk about the outage at the Baton Rouge refinery, percolated on the trading floor.

``There was a bit of confusion on what this was all about as the company held off saying anything, but the herd mentally prevailed on the floor,'' said a NYMEX floor trader.

Exxon Mobil did not comment on reports it planned a two-week shutdown of its massive 465,000 bpd Baytown, Texas, refinery in early September. Traders said Exxon was a sizable buyer in the cash market ahead of the planned shutdown.

Heating oil futures ended on a firm tone after hitting fresh contract highs, as traders raised fears of winter shortages in the face of dwindling stocks at this time, when stocks should be building for the cold season.

September heating oil finished at 86.28 cents a gallon, adding a hefty 2.74 cents. It struck a fresh contract high of 86.60 cents.

In London, September Brent crude last traded at $30.85, gaining 98 cents on the back of the news of reduced Saudi allocations for September and concerns over low U.S. crude supplies.

Saudi Arabia has cut oil majors' initial September crude allocations from final volumes the kingdom issued for August lifting also aided bullish sentiment, traders said on Thursday.

Initial September term volume reductions for some oil majors are significantly deeper than the 13 percent final cutback they received during August, they said.

Saudi Arabia has promised to release an extra 500,000 barrels per day (bpd) of crude to ease oil prices, but big falls in U.S. oil stocks have increased traders' doubts about how much of that oil is hitting the market.

Crude oil prices vaulted to above $30 on Wednesday after the American Petroleum Institute (API) said U.S. crude stocks dipped 2.1 million barrels last week, bringing down inventories to 282.6 million, the lowest in 24 years.

That further fuelled bullish sentiment, which had resurfaced the previous week on a surprise 9.0 million barrel draw on crude stocks for the week ended July 28.

--

http://biz.yahoo.com/rf/000810/n10343809_3.html

-- Cave Man (caves@are.us), August 10, 2000.

NYMEX Oil Review:Crude up on Saudi's Europe cuts, Iraq tension

By Robert Gibbons Bridge News New York--Aug. 10

NYMEX crude oil futures spiked Thursday with Middle East tensions, reports of less Saudi Arabia oil slated for Europe and refinery snag talk supported by heavy refiner buying sending the whole complex higher. Sep crude settled up 99c, or 3.26%, at $31.20 per barrel. Sep heating oil settled up 274 points, or 3.28%, at 86.28 cents per gallon. Sep gasoline settled up 444 points, or 5.03%, at 92.64c per gallon.

Reports of increased tensions at the Iraq-Kuwait border, the scene of the Iraq invasion of Kuwait 10 years ago helped support a market already in an upswing over crude inventory declines reported earlier in the week.

Thursday morning also saw the crude and gasoline futures markets responding to reports of problems at ExxonMobil's Baton Rouge, La., catcracker.

BridgeNews reported that Louisiana officials said ExxonMobil reported an Aug. 2 catcracker snag Monday and that the officials said ExxonMobil reported a naphtha release from No. 12 catcracker. ExxonMobil refused comment.

More uplift to the crude market came from reports citing European oil traders stating that Saudi Arabia was cutting supply from nominated levels for September. "Whether its 20% or 25% below August levels or just back to the August levels, it still means no new production showing up," one broker said.

http://www.petroleumworld.com/story341.htm

-- Cave Man (caves@are.us), August 10, 2000.