Zeev: Does CCMP or CYMI feature in your open bids for tomorrow and if so at what prices? Also, from what I understood from your note, you expect a swoon in the morning and then a stronger close. Why do you think that this is likely (as I write this note, Nikkei is up about 150 points) or is it just a hunch? Do you not subscribe to the recent phenomenon of a ramp up in the morning and a slow meandering for the rest of the day for tomorrow? Thanks for your comments.
US Lawmaker Calls for Release of Strategic Oil Reserves VOA News 23 Dec 2002, 21:56 UTC
A senior U.S. lawmaker is urging the White House to tap into strategic oil reserves as the Venezuelan crisis pushes oil prices to a two-year high amid Iraq war fears.
Representative Billy Tauzin, chairman of the House Energy and Commerce Committee, made the urgent request in a letter to the Department of Energy. He says two refineries in his home state of Louisiana will run out of oil before the end of the month.
The U.S. Strategic Petroleum Reserve holds almost 600 million barrels of crude oil. Mr. Tauzin says the Venezuela shortfall is starting to have an "acute" affect on the U.S. economy.
Venezuela supplies about nine percent of U.S. gasoline and 13 percent of crude oil supplies.
There was no immediate response to the Tauzin letter from the Energy Department, but officials there have previously said they do not plan to lend stockpiled oil to firms having problems with supply.
On the New York Mercantile exchange crude oil futures for February delivery increased to a high of $31.45 a barrel, up almost a $1.50.
Oil prices have risen by 25 percent since mid-November amid concerns over a war with Iraq.
Market Data 
Markets 
AI
