Source Pravda.Ru

Mild weather forecast to bring lower oil crude prices

&to=http:// english.pravda.ru/chechnya/2000/10/24/431.html' target=_blank>Crude oil futures fell to a three-week low after a report showed U.S. gasoline supplies unexpectedly jumped last week and forecasts of mild weather eased concerns that winter heating supplies would fall short of demand.

&to=http:// english.pravda.ru/comp/2002/08/12/34336.html' target=_blank>Gasoline inventories rose for the 10th week in 11, and on Jan. 28 were 5 percent higher than a year earlier, according to a U.S. Energy Department report yesterday. Temperatures in the northeast and much of the central U.S. will be above normal in the first half of February, the National Weather Service said.

"We could see a little bit lower crude prices in the coming weeks with the mild weather forecast in the U.S.," said Herwin Schonewille, a trader with Fortis Bank NV in Brussels. "There is a pressure on heating oil market," as refineries start to switch to gasoline and "it seems there is lot of gasoline in stockpiles", reports Bloomberg.

At its meeting Sunday, &to=http:// english.pravda.ru/main/2002/09/18/36864.html' target=_blank>OPEC warned that prices near the US$50 barrel range would remain high through the spring and opted to keep its production ceiling unchanged.

Comments
Ukraine suspicious about Russia's intention to give away rusty ships to Kiev
Keys to understanding the world from Feminism - Science and Feminism
You're invited to death penalty: Barbaric traditions of world's most progressive states
Russia's new torpedo carrying 100-megaton nuclear warhead nullifies USA's Prompt Global Strike
Russia's new torpedo carrying 100-megaton nuclear warhead nullifies USA's Prompt Global Strike
Russian poultry stuffed with antibiotics and dangerous bacteria
Americans declassify plans to drop 466 nuclear bombs on USSR
Russia's new torpedo carrying 100-megaton nuclear warhead nullifies USA's Prompt Global Strike
Russia's and China's gold may end global domination of US dollar
Unveiled: Secret Pentagon UFO program. From science fiction to science fact
Russian poultry stuffed with antibiotics and dangerous bacteria
Russia eyes opportunity to restore all Soviet bases that had to be abandoned after 1991
Call girl dies of asphyxia in bizarre sexual encounter
Call girl dies of asphyxia in bizarre sexual encounter
Call girl dies of asphyxia in bizarre sexual encounter
German experts name Russia's most dangerous weapon
Russia to impose sanctions on WADA for Winter Olympics 2018
Russian Guard to see enemies behind walls
What will happen if USA freezes Russian dollar assets?
Ukraine suspicious about Russia's intention to give away rusty ships to Kiev
Russian Armed Forces to receive second-to-none gliding bomb