Ã-l NEWS

verfasst von KEEP-COOL, 23.08.2000, 11:21

Ã-l - Heating Oil - Gasoline und.....der Winter naht.

Nachfolgend einige news zu Ã-lpreisfront. Es wird zunehmend prikärer.



Notierungen in London IPE Stand: 11.22 h

Brent Okt. $/b 30,68 (+0,75)
Gasoil Sept. $/t 295,00 (+7,75)

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news

London, Aug. 23 (Bloomberg) -- U.S. crude oil rose more than 3 percent in electronic trading as inventories unexpectedly fell 2.7 percent last week to close to a 24-year low, raising concern about winter heating oil supplies.

The 7.77 million-barrel decline to 279.7 million barrels left crude inventories near the low of 279.0 million two weeks ago. Heating oil supplies, meantime, are 39 percent lower than a year ago, signaling supplies could be short for winter in the Northern Hemisphere.

Crude oil for October delivery rose as much as $1.08, or 3.5 percent, to $32.30 a barrel in electronic trading on the New York Mercantile Exchange. Oil in New York has gained more than 18 percent in August. Brent crude for October settlement on London's International Petroleum Exchange is expected to open 70 to 80 cents higher from $29.93 a barrel, traders say.

``No one expected these sort of draws,'' said Tim Noest, trader at ADM Investor Services International. Brent ``should go up about 70 cents.''

Inventories of distillate fuels, such as heating oil and diesel, fell 2.89 million barrels to 111.2 million. Analysts surveyed by Bloomberg News expected a gain of 1.3 million to 2 million barrels.

Heating oil ``stocks were virtually unchanged,'' said Bill O'Grady, director of fundamental futures research at A.G. Edwards & Sons Inc. in St. Louis. ``At this time of year they should be rising, and pretty significantly.''

Heating oil for September delivery rose as much as 2.65 cents, or 2.9 percent, to 93.00 cents a gallon in electronic trading on the Nymex. Prices are up 23 percent this month.

``It's scary to think what's going to happen if a cold snap hits the U.S. this winter,'' said Tsutomu Toichi, director at the Institute of Energy Economics, Japan.

Shortages

Oil inventories have declined even after the Organization of Petroleum Exporting Countries boosted output twice this year. OPEC, which pumps about 40 percent of the world's crude, has increased daily production this year by around 2 million barrels, or 2.7 percent of world daily output.

OPEC is considering whether to boost production in September to help reduce prices near nine-year highs.

``Unless OPEC gives a very clear signal before their Sept. 10 meeting that they plan to increase oil output, (WTI) will stay between $32 and $34,'' said Byung Jae Lee, a crude oil trader at Hyundai Oil Refining (Singapore) Pte.

OPEC said it would increase oil output 500,000 barrels a day only if the so-called OPEC basket price -- the average price of six crude grades produced by OPEC members and one crude pumped by Mexico -- breaches $28 a barrel for 20 consecutive days. Prices exceeded $28 a barrel on six consecutive days through Monday, Aug. 21, the last time OPEC updated its basket price.

``Adding 500,000 barrels a day is not enough, OPEC has to increase output by at least another 1 million barrels a day'' to meet current demand, said Lee at Hyundai Oil.


Gruss

K C




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