Oil Headed for Biggest Rally in 4 Months on Fuel-Supply Concern

[Robbien]

<snip>

Oil prices have climbed 6.7 percent this week as refinery shutdowns in Texas, Louisiana and Venezuela threatened to curb fuel supplies. U.S. gasoline inventories are down 5.7 percent since the end of February, more than double the five-year average, boosting demand for crude to fill gaps in fuel output.

. . .

A gasoline-making unit at a Lake Charles, Louisiana, refinery owned by ConocoPhillips, the largest U.S. refiner, yesterday failed to start after maintenance, Reuters reported, without naming its source. Conoco spokeswoman Laura Hopkins declined to comment.

San Antonio-based Valero, the third-largest U.S. refiner, on April 18 said a coker at its St. Charles, Louisiana, plant will be shut until at least April 26, halting 336,000 gallons of daily gasoline output and 1.05 million gallons of daily distillate production. Distillates include diesel and heating oil.

Petroleos de Venezuela SA, South America's largest oil producer, last week stopped gasoline and diesel production at its Puerto La Cruz refinery after one of the plant's units was shut, El Nacional reported today, citing unidentified industry officials.


``It looks like problems with refineries in the U.S. are making people nervous about not getting enough gasoline for the summer season,'' said Anette Einarsen, an oil analyst in Oslo for Nordea Bank AB. ``The market is also jumpy because of the uncertainty of how much demand will actually grow compared to production from refineries.''

http://quote.bloomberg.com/apps/news?pid=10000103&sid=affQCPEHQ_fQ&refer=news_index

[EVDebs]

1. .....while the Dow sinks slowly in the West ! eom

[AValdoux]

3. the dow was up 200 yesterday (haha)

The news stories about that said it was based on higher than expected earning reports. The corporations are still doing good, so we should be ok. They will take care of us, right?:sarcasm:


(it would be funny if it wasn't so sad)


Avaldoux

[Robbien]

5. Just the speculators cashing in while the mutuals lost big

A one day ride where the rich elite speculators cashing in on the losses of the 401k mutual fund losers.

[EVDebs]

8. Dow down 61 today, and the outsourcing props up the CEOS

http://www.businessweek.com/ap/financialnews/D89KN3EG0.htm?campaign_id=apn_home_down

While the workers get laid off and the jobs go to China. You can't sustain these losses of consumption without pulling the legs out from under the economy. US consumption is 2/3rds of GDP; lower that and you lower GDP.

I'm Forrest Gump, people call me Forrest Gump.

[nothingshocksmeanymore]

2. Refineries are deliberately being taken offline to increase it more

[teryang]

15. Yes

money, money, money,

[DS1]

4. We're being Enron'ed all over again

[Yavin4]

6. Yep.

In every single way.

[leveymg]

7. Hey, it brought down the Gov. of CA. Can it do the same for PrezoUSA?

Hey, it also worked to bring down Carter in '79.

Look at this as an opportunity to do some long overdue political housecleaning in this country.

:bounce:

[EVDebs]

9. Bush is gone in '08 anyway, we need to clean House and Senate

in '06 and then keep our eyes on the prize in '08 !

[TheFarseer]

10. what's your tag line from? sorry to be off topic n/t

[gizmo1979]

11. In the USA Today just this week they

said there was plenty of oil and prices were going to slide.Who the hell is in charge?:argh:

[GOPBasher]

12. I want oil prices to sky-rocket. n/t

[applegrove]

13. No kidding. Who wouldn't buy gas or oil stocks. That way you'll be

able to afford driving your car.

[lovuian]

14. This isn't so much about Peak Oil but about Refineries that are old

and can't keep up production!!!

There is no refinery thats going to pop up over night thats for sure!!!

These were all built in the 60's thats how old they are!!!