Ã-L - Heating Oil - Gasoline....... und

- heute ist meine Fußbodenheizung angesprungen.
Die Außentemperatur um 8.00 hlag bei 13 Grad C

IPE Notierungen Stand 12.30 h


News

Brent Monat Oktober 30,78 $/b (+0,09)
Gasoil Monat September 297,25 $/t (-1,25 )




08/24 05:16 Crude Oil Steady as Clinton Renews Effort to Reduce Prices
By Brian Gorman

London, Aug. 24 (Bloomberg) -- Crude oil was little changed as U.S. President Bill Clinton renewed lobbying efforts to bring down prices that are among the highest of the past decade.

Clinton said oil prices are too high and that he plans to discuss the matter with President Olusegun Obasanjo of Nigeria, a member of the Organization of Petroleum Exporting Countries that he meets later this week. Oil supplies in the U.S., the top energy consumer, are near a 24-year low, raising concern of a lack of heating oil during the coming Northern Hemisphere winter.

``We'll sit up and take notice when Clinton meets with some of the bigger players,'' said Shelley Mansfield, trader at ADM Investor Services International. Yet ``Nigeria doesn't have that much influence.''

Brent crude oil for October settlement was 6 cents higher at $30.75 a barrel on London's International Petroleum Exchange. Crude oil for October delivery on the New York Mercantile Exchange was up 10 cents at $32.12 a barrel in electronic trading.

Clinton said he wants prices to be in the low-to-mid $20-a- barrel range and would talk with officials from other oil- producing nations in the coming weeks.

Oil supplies dropped 2.7 percent last week and are down 15 percent since May as OPEC resists calls for more oil until its members meet Sept. 10. Heating oil inventories are 39 percent below year-earlier levels as U.S. refiners struggle to make enough of the fuel to meet demand when winter sets in.

Warning

Heating oil for September delivery was up 0.19 cent, or 0.2 percent, at 95.61 cents a gallon on Nymex, 68 percent higher than last year, after yesterday reaching the highest closing price since October 1990.

The U.S. Energy Department has already warned consumers in the Northeast to expect higher heating bills this winter. Retail heating oil prices surged above $2 a gallon in February during an unexpected cold snap.

U.S. heating oil supplies were little changed last week at a time when refiners usually build up stockpiles for the winter heating season.

Inventories rose 16,000 barrels to 42.2 million in the week ended Aug. 18, the American Petroleum Institute said in a weekly report, widening a year-on-year deficit to 39 percent from 38 percent a week earlier. Supplies rose 2.1 million barrels the same week last year.

The crude oil inventory decline to 279.7 million barrels left U.S. supplies close to the low of 279.0 million reached two weeks earlier, the lowest level since 1976.

The 7.77 million-barrel decline in U.S. crude oil inventories came as OPEC said they wouldn't increase production for now. While Saudi Arabia said last month that an additional 500,000 barrels was needed daily, most other OPEC members said no decision will be made before the group meets next month.

`Fair' Price

While many members of OPEC say current oil prices are fair, consuming nations are adamant that prices are too high and could crimp economic growth.

The decline in inventories came even as OPEC boosted output twice this year. OPEC, which pumps about 40 percent of the world's crude, has increased daily production by about 2 million barrels, or 2.7 percent of world output.

The price of a group of crude oils OPEC monitors stood at $28.54 a barrel Tuesday, topping the group's target range of $22 to $28 for a seventh straight day. OPEC has said it will boost output if this index remains above $28 for 20


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