Energy Price News

[DMS <dmschanoes@xxxxxxxxxxxxx>]

From:http://www.eia.doe.gov/emeu/perfpro/news_i/index.html

"Despite a 3 percent increase in world petroleum supply
coupled with a 1 percent increase in world petroleum demand,
world stock levels were lower than a year ago, putting addi-
tional upward pressure on world oil prices."

Natural Gas

..the average US natural gas wellhead price increased 68 percent
between Q2-2002 and Q2-2003..

...the opening US natural gas working storage level in Q2-2003
was 55 percent lower than Q2-2002, which itself was 42 percent
higher than the average opening working storage level for the
first quarter of 1997-2001.

Refiner Margins

...boosted by higher margins.  The 36 percent increase...
swelled independent earnings by 40 percent....  Refined
product prices increased in part because a 12-percent drop
in refined product stocks in Q2-2003 compared to Q2-2002
put upward pressure on product prices.
__________

Reserve stocks high or low, high and low, are all about price
and profit.





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