Re: OT: You're right, NOYB


NOYB wrote:

> No wonder you're confused. It's Tuesday, and you're posting 4 day old news
> as if it were "new".

Here, 59 minutes ago:
http://quote.bloomberg.com/apps/news?pid=10000103&sid=aEX09rGnHQCA&refer=news_index

which says in part:

Crude Oil Rises as Colder U.S. Weather Rekindles Supply Concern
Dec. 7 (Bloomberg) -- Crude oil rose for a sixth day in New York, the
longest rally since Hurricane Katrina in August, on concern freezing
weather in the U.S. will drain fuel supplies.

``This is a market that has been extremely nervous, preparing to face
shortages of heating oil this winter since April,'' said Deborah White,
a commodities economist at Societe Generale SA in Paris. ``Hope never
dies for the bulls.''

Crude oil for January rose as much as 55 cents, or 0.9 percent, to
$60.49 a barrel on the New York Mercantile Exchange. It was trading up
43 cents at 11:27 a.m. London time, near a one-month high of $60.80 two
days ago. Oil has still retreated 15 percent form a record $70.85 on
Aug. 30, the day after Katrina made landfall, hampering U.S. oil output
and refining.

Demand for heating fuel is rising and may start draining stockpiles in
coming weeks as freezing weather prevails in the U.S. Northeast. OPEC
is pumping nearly as much oil as it can after offering to sell every
barrel it can produce through the end of the year. That means world
markets lack a buffer if natural disasters or terrorist attacks disrupt
supplies.

``I don't think we're going back up to $70 because that was an
artificial circumstance after the hurricanes,'' said Mike Wittner, the
global head of energy market research at Calyon in London, a unit of
Credit Agricole SA. ``What we need for prices to stay high is several
weeks of cold weather and draining stocks.''

.

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