OGJ Newsletter

10/20/2003
Market MovementEnergy futures prices fall in profit-takingEnergy futures prices fell early last week as traders took profits from the previous week's rally and awaited the next movements in US inventories of crude, petroleum products, and natural gas.Those same commodity prices previously soared Oct. 9-10 on the New York Mercantile Exchange as cooler weather reminded traders that US inventories of distillate fuel were 18% below year-ago levels just weeks before the start of the peak winter demand period. That triggered a scramble by large commodity-fund speculators to reverse earlier bets that prices for crude and heating oil would fall this winter. Odds favor colder winter"Several cu...
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