[RWR8189]

Light, Sweet Crude Oil

9/29/2005 Session Contract Detail for Nov 5

	Last				66.60
	Open High				66.35
	Open Low				66.35
	High				66.66
	Low				66.10
	Settle				66.35
	Change				+.25
	Open Interest				238645
	Volume				0.00
	Last Updated				09/29/2005 07:02:43

[JackDanielsOldNo7]

We are getting the shaft here in Fayetteville NC. Gas back up to 3.19. 20 cent increase overnight. Somebody is screwing someone. Right now I have no Vaseline. I have a feeling they are going to ride the hurricane excuse out for a few more weeks.

[patriot_wes]

2000 years of DOMESTIC OIL UNTAPPED?

http://www.tomvalentine.com/html/karrick2.html

[JackDanielsOldNo7]

Bend over and take it.

[WOSG]

So much nonsense from these traders, I can understand why oil is still high ... but the facts are different:

Fact - PLENTY OF INVENTORY:
http://tonto.eia.doe.gov/oog/info/twip/twip.asp
"With the data for the week ending September 23 showing gasoline, distillate fuel, and crude oil inventories all at or above the average range for this time of year, it appears that inventories, along with increased product imports, may be sufficient to make up for lost production due to refinery outages for a brief period."

"U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) dropped by 2.4 million barrels from the previous week. At
305.7 million barrels, U.S. crude oil inventories remain above the upper end of
the average range for this time of year. Total motor gasoline inventories
jumped by 4.4 million barrels last week, putting them in the middle of the
average range. Distillate fuel inventories decreased by 0.5 million barrels
last week, and are just above the upper end of the average range for this time
of year. "



Fact - DEMAND IS LOWER than last year
"Total product supplied over the last four-week period has averaged 20.2 million
barrels per day, or 2.0 percent less than averaged over the same period last
year. Over the last four weeks, motor gasoline demand has averaged over 8.8
million barrels per day, or 2.8 percent below the same period last year.
Distillate fuel demand has averaged 3.9 million barrels per day over the last
four weeks, or 3.1 percent below the same period last year. Kerosene-type jet
fuel demand is up 0.9 percent over the last four weeks compared to the same
four-week period last year."

"U.S. crude oil imports averaged 9.7 million barrels per day last week, down
139,000 barrels per day from the previous week. Over the last four weeks,
crude oil imports have averaged over 9.5 million barrels per day, a decrease of
315,000 barrels per day from the comparable four weeks last year. "

So, high inventories and lower demand make for high prices?

Only in a bubble!