Note:  Stocks of heating oil are very high for this winter, affecting the 
northeast and Florida markets' economics.  LB

-----Original Message-----
From: webmaster@cera.com [mailto:webmaster@cera.com]
Sent: Friday, November 16, 2001 9:01 PM
To: clients@cera.com
Subject: High Inventories and Weak Jet Demand Shape the Heating Oil
Market - CERA Alert 



Title: Atlantic Basin Heating Oil Markets Well Supplied Before Winter 	
URL(s):	

http://www.cera.com/eprofile?u=35&m=2800;


***********************************************************************

HIGH INVENTORIES AND WEAK JET DEMAND SHAPE THE HEATING OIL MARKET

Atlantic Basin heating oil markets are comfortably supplied in the lead-up to 
the winter 2001/02 heating season, and accordingly CERA expects much weaker 
distillate-to-crude price differentials than those of a year ago.

*  Primary distillate inventories in North America are well above those of a 
year ago, and German heating oil stocks are as much as 60 million barrels 
higher then last year.

*  Weakening jet fuel demand effectively increases availability of refinery 
distillate supply capability.

*  Distillate consumption in switchable applications in North America will be 
much lower than they were last year, when a very tight natural gas market 
boosted distillate demand.


**end**

Follow above URL for complete Alert (3 printed pages).

E-mail Category: Alert                                             
CERA Knowledge Area(s): Global Oil


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