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Sam "Raven"

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Sam "Raven"

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Re: None

Tuesday, 07/23/2002 6:56:38 PM

Tuesday, July 23, 2002 6:56:38 PM

Post# of 928
Looking at the horizon, this may have a play in the future. What follows is what I'm writing in our commentary for tomorrow.

Weekly Oil and Gas Inventories are released at 9:00 AM ET. The American Petroleum Institute (API) figures released after the close yesterday [today] showed a drop in both crude oil and gasoline inventories. I mentioned last week "Now crude inventory is at the level of last February, this is starting to look bullish for energy stocks. It might be time to take another look at them."

If the Energy Information Agency shows the same trend as the API figures we need to pay more attention to the down trend in crude inventory. Higher oil prices will follow, along with higher prices in the energy and energy service stocks.

Sam



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