Rubatex Information

Rubatex Msds The price of crude oil in New York rose above $30 a barrel for the first time since April on concerns that low inventories of gasoline and other refined fuels would spur oil demand by refineries.

Crude oil reached a record high, jumping by US$1.38 to $78.21 a barrel .We expected that the Weekly US crude report would show a decline in supplies on Monday which may cause a significant reduction in oil prices.

Rubatex Neoprene Gasoline supplies fell 3.4 million barrels, to a five-week low of 205 million barrels, in the week ended May 23, the Energy Department said last week. Gasoline demand peaks during the summer vacation season, which runs from Memorial Day to Labor Day. Oil rallied 15 percent in New York last month as refiners increased gasoline output.

With oil hovering near $70 a barrel, the world's concern for inflationary pressures will not be going away anytime soon.

Rubatex Pipe "Crude oil stocks may fall as refiners try to increase gasoline production," said Kyle Cooper, an analyst with Citigroup Global Markets Inc. "The government is also buying crude oil for the Strategic Petroleum Reserve, which is supporting prices."

Meanwhile, the oil prices reached back above a barrel due to a reduction in shipping supply caused by bad weather in Alaska.

Rubatex Pipe Insulation In New York, the price of crude oil for July delivery rose $1.15, or 3.9 percent, to $30.71 a barrel, the highest closing price since April 21 and the biggest one-day gain since May 13. Gasoline futures increased 2.2 percent, to 88.67 cents a gallon.

Furthermore, Opec oil supplies will peak in the beginning of the next decade, according to the International Energy Agency raising the risk of supply disruptions which could push the crude price as high as $130 per barrel. Who really knows, and the United States, China and India have huge reserves. Hence, carbon emissions will soar even faster.

Rubatex 180 Low inventories also sent heating oil and natural gas futures higher. Heating oil gained 2.4 percent, to a five-week high of 76.59 cents a gallon, and natural gas jumped 2.6 percent, to $6.412 per million B.T.U.'s, the highest since March 10.

Today the USD will be affected by other currencies when no special news is due to be released, we however offer to watch carefully the Canadian Core Retail Sales and CPI which are mixed in their forecasts and a significant movement is expected to occur if figures surprise the market . Crude oil fell by $1.30 a barrel to $70.68; however, tomorrow Crude Oil Inventories is due to be out we might see a bit of a movement in this commodity instrument .

Rubatex 180 Fs Crude oil inventories are about 10 percent lower than a year earlier, the Energy Department's report last week showed. Supplies of distillate fuels, which include heating oil and diesel, were down 19 percent.

Bloomberg News - 6/3/2003

Topic: Petroleum Industry