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54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-25-04 09:23 AM
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27. Crude Oil Rebounds as U.S. Inventories Expected to Decline

Aug. 25 (Bloomberg) -- Crude oil futures rose for the first time in four days as traders expected a report will show U.S. inventories fell last week as refiners stepped up production.

Crude oil stockpiles probably declined by 250,000 barrels last week, from 293 million the week before, according to the median forecast in a Bloomberg survey of 14 analysts. Oil prices had slid 5.1 percent in New York during the past three days, as concern eased of disruptions to Iraqi and Russian exports.

``A two, three or four-day pullback in a market like this doesn't mean too much,'' said Bob Frye, a commodities broker at Access Futures & Options Trading, in Woodlake, California. ``It's definitely not the time to try shorting this market,'' Frye said, referring to a bet that prices will fall.


Today, unleaded gasoline for September delivery rose a second day, by as much as 0.72 cent to $1.2675 a gallon.

U.S. gasoline supplies probably shrank 2.25 million barrels last week from 205.7 million barrels the previous week, based on the Bloomberg survey. That would be the third straight decline.

Sunoco Inc., the largest refiner in the U.S. Northeast, will shut part of its refinery in Marcus Hook, Pennsylvania, for maintenance next month, Reuters reported, citing unidentified trade sources.

Other refiners, including San Antonio-based Valero Energy Corp., will also slow operations next month for annual maintenance. Valero, the third-biggest U.S. oil refiner, said Aug. 5 it will begin work in September on its refinery in Paulsboro, New Jersey.
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  -STOCK MARKET WATCH, Wednesday 25 August ozymandius  Aug-25-04 06:16 AM   #0 
  - WrapUp: "LIES, DAMN LIES, AND THE LYING FOOLS WHO TELL THEM!"  ozymandius   Aug-25-04 06:26 AM   #1 
  - Two Great Depressions - One Lifetime - by Robert B. Gordon, Sc. D.  ozymandius   Aug-25-04 06:34 AM   #2 
  - Hmmmm, perhaps I should rethink that degree and start plowing the  54anickel   Aug-25-04 02:34 PM   #58 
  - Good morning Marketeers.  ozymandius   Aug-25-04 07:00 AM   #3 
  - Thanks Ozy! I didn't mean to hi-jack the thread with my ranting and  54anickel   Aug-25-04 07:53 AM   #4 
  - On the topic of "untruths", here's one from HHS  54anickel   Aug-25-04 08:07 AM   #5 
  - daily dollar watch  UpInArms   Aug-25-04 08:13 AM   #6 
  - Hmmm, Forex gang questioning the Fed BS?  54anickel   Aug-25-04 09:10 AM   #21 
  - Hey, where's the dollar goin' today anyway? The chart for today is  54anickel   Aug-25-04 09:38 AM   #29 
  - Greenspan says housing data clouded  UpInArms   Aug-25-04 08:16 AM   #7 
  - Pretty much in line with his testimony regarding bubbles isn't it? Nope,  54anickel   Aug-25-04 10:06 AM   #31 
  - "Luxury Home Builder" Toll Brothers Profits Soars 56 Percent.  KoKo01   Aug-25-04 11:03 AM   #37 
  - Aetna Confirms Layoff Plans  UpInArms   Aug-25-04 08:21 AM   #8 
  - Hedge funds don't need more regulation-Greenspan  UpInArms   Aug-25-04 08:24 AM   #9 
  - Ha-ha, poor Greenspin has bastardized the role of the central bank  54anickel   Aug-25-04 08:38 AM   #13 
     - did you notice where this decision was made?  UpInArms   Aug-25-04 08:45 AM   #15 
        - Why yes it IS! And do you happen to know the year in which that  54anickel   Aug-25-04 08:56 AM   #18 
           - here's the text from the original Executive Order #12631  UpInArms   Aug-25-04 09:14 AM   #23 
              - So in layman's terms what they basically decided was  54anickel   Aug-25-04 09:56 AM   #30 
  - UK news: End of 'cheap energy era' as gas prices increase 12%  UpInArms   Aug-25-04 08:26 AM   #10 
  - Citigroup nabs big Texas bank  UpInArms   Aug-25-04 08:29 AM   #11 
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  - here's where Adam got the banks  UpInArms   Aug-25-04 08:51 AM   #17 
  - "A relatively small deal for Citigroup"  54anickel   Aug-25-04 09:04 AM   #19 
  - pre-opening blather  UpInArms   Aug-25-04 08:31 AM   #12 
  - "Bullish, but becoming overbought". Seems to be the mantra each  54anickel   Aug-25-04 08:48 AM   #16 
  - Toll Brothers profit jumps 56 percent  UpInArms   Aug-25-04 09:06 AM   #20 
  - Bank of America Exec to Get ($20.7 million) Severance Pay  UpInArms   Aug-25-04 09:10 AM   #22 
  - $20.700 Million Severance Pay? Oh Yeah....How many employees who  KoKo01   Aug-25-04 11:25 AM   #42 
  - Is that the splash of a rat abandoning ship? WTF, they'll pay his Fed tax  54anickel   Aug-25-04 12:56 PM   #49 
  - 10:15 EST numbers and blather  UpInArms   Aug-25-04 09:17 AM   #24 
  - Inflation beast is loose again  54anickel   Aug-25-04 09:18 AM   #25 
  - new home sales report  UpInArms   Aug-25-04 09:22 AM   #26 
  - Crude Oil Rebounds as U.S. Inventories Expected to Decline  54anickel   Aug-25-04 09:23 AM   #27 
  - Oil Isn't Only Constraint on the Economy  54anickel   Aug-25-04 09:29 AM   #28 
  - "A Primer on Government Economic Reports -- Things You've Probably  54anickel   Aug-25-04 10:20 AM   #32 
  - Kuwait Minister: Oil Price Being Driven Up (by speculators)  54anickel   Aug-25-04 10:27 AM   #33 
  - Skilled Labor in High Demand  54anickel   Aug-25-04 10:47 AM   #34 
  - Pensions may need a taxpayer bailout  54anickel   Aug-25-04 10:50 AM   #35 
  - Pension crisis grows as businesses weigh defaulting on plans  54anickel   Aug-25-04 11:00 AM   #36 
  - Sorry, Cato....No can do....we Americans have too much debt and we  KoKo01   Aug-25-04 11:18 AM   #40 
  - If we had a REAL free press...  loudsue   Aug-25-04 01:41 PM   #52 
     - Bwahahaha, Excellent point Loudsue!!! I'll admit I certainly overlooked  54anickel   Aug-25-04 01:51 PM   #53 
  - US consumer shows signs of flagging  54anickel   Aug-25-04 11:07 AM   #38 
  - 12:07 check out that vertical line right at the lunch hour  54anickel   Aug-25-04 11:10 AM   #39 
  - Dearth of new wells drilled could keep oil prices high  54anickel   Aug-25-04 11:22 AM   #41 
  - 1:09 EST numbers and blather (WHEE!)  UpInArms   Aug-25-04 12:11 PM   #43 
  - Yen intervention hasn't hampered Fed--Greenspan  UpInArms   Aug-25-04 12:38 PM   #44 
  - You dare to question! The great, magnificient wizard of Oz has SPOKEN!  54anickel   Aug-25-04 12:49 PM   #47 
  - Fed will be flexible, oil hits growth, Guynn says  UpInArms   Aug-25-04 12:40 PM   #45 
  - 1:31 EST numbers and (must read to believe) blather  UpInArms   Aug-25-04 12:43 PM   #46 
  - Maybe the blather authors read DU and have decided that  54anickel   Aug-25-04 12:51 PM   #48 
     - or maybe they've been struck dumb and what they see..  KoKo01   Aug-25-04 02:42 PM   #61 
  - Sleeping with The Debt - Mogambo  54anickel   Aug-25-04 01:25 PM   #50 
  - 2:25 Pump it up baby!!!! (outdated blather)  54anickel   Aug-25-04 01:27 PM   #51 
  - Gold Rises in New York on Terrorism Concerns After 2 Russian Planes Crash  54anickel   Aug-25-04 01:56 PM   #54 
  - Screaming from my soap box! (Generation gap?)  54anickel   Aug-25-04 02:13 PM   #55 
  - I don't know about this rant. I don't think it's a generational problem,  KoKo01   Aug-25-04 02:35 PM   #59 
     - Yes, I suppose it is more of a policy than generational issue, perhaps  54anickel   Aug-25-04 03:08 PM   #63 
        - It's "ugly and sad" ...agree. But not all the boomers were "flower  KoKo01   Aug-25-04 09:10 PM   #73 
  - 3:13 update. Any last hour surprises today?  54anickel   Aug-25-04 02:17 PM   #56 
  - U.S. Treasuries firmer, but auction disappoints  54anickel   Aug-25-04 02:20 PM   #57 
  - hmmm...."indirect bidders and customers of primary dealers...and....  KoKo01   Aug-25-04 02:38 PM   #60 
  - In search of a golden fleece  54anickel   Aug-25-04 02:57 PM   #62 
  - Closing numbers - a "Fantabulous rally"  54anickel   Aug-25-04 03:19 PM   #64 
  - A final splash of closing blather  54anickel   Aug-25-04 06:05 PM   #65 
  - Cartoon  KoKo01   Aug-25-04 06:13 PM   #66 
  - Here's a cartoon...  KoKo01   Aug-25-04 06:16 PM   #67 
     - Whaddaya up to there KoKo?  54anickel   Aug-25-04 06:53 PM   #68 
        - Sorry...after five test....for "tests" of Microsoft against "Netscape."  KoKo01   Aug-25-04 07:03 PM   #69 
           - Hi KoKo!  UpInArms   Aug-25-04 07:07 PM   #70 
           - Ahh, you always make me smile KoKo. No problem, sorry to have  54anickel   Aug-25-04 07:18 PM   #71 
              - ROFL...fugedaboutit? (did I get that right?) whatever..thanks to you  KoKo01   Aug-25-04 08:22 PM   #72 

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