(Oil Topic) OPIS Alert: More price volatility ahead.

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***NYMEX PREVIEW: MARKET DROP SETS STAGE FOR MORE VOLATILITY 3/9/00 The huge 7cts decline in heating oil and gasoline futures, coupled with the nearly $3.00 bbl drop in crude oil prices, has set the stage for more price volatility in the days ahead. Many believed the sharp one-day decline, the biggest in months, was long over due. Not everyone is convinced, however, that it marks a reversal in the upward momentum of oil prices. Overnight ACCESS trading has already seen some price restoration. NYMEX unleaded prices are up nearly a penny, while heating oil prices have gained 1.69cts gal. Crude oil is up 84cts bbl to $32.10 bbl. The rebound is not very convincing, but indicates that the market will likely be up and down until OPEC meets in another three weeks. Ironically, physical prices for refined spot products dropped just as much as the NYMEX on Wednesday. This surprised many, since actual wet barrels continue to be tightly held. Don't be misled by the decline in gasoline prices. Much of that decline is traders trying to unload winter RVP grades. Once the lower RVP kicks in, gasoline barrels may again prove hard to find.

-- Wine-O (123@4.com), March 09, 2000


Interesting observation, that no one seems interested enough to comment on these OPIS alerts....curious!

Is the price increase in petroleum products just because of "greedy oil companies", or other influences?

Couldn't be computer/embedded problems...we've all been told that's not the issue.


-- WhoMe (whome@nowhere.net), March 10, 2000.

Whats RVP? thanks com

-- thanks com (thanks@ok.com), March 10, 2000.

RVP = Reid Vapor Pressure

-- (whatever@you.want), March 10, 2000.

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