The Energy Report for Friday June 13, 2008
Energy Report
by Phil Flynn
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2008-06-13
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Of Course slowing demand fears is what keeps OPEC awake at night. That and sleeping on those dollar stuffed mattresses. One of the reasons Poacher raising production is that they see the oil demand growth slowing and spreading around the globe. OPEC is saying that OIL demand Growth will slide to 1.28% as compared to 1.35% last month. They also say that China accounts for 40% of total 2008 demand growth. They also revised Non-Opec supply growth by 50k barrels.
Then Bloomberg reported that Saudi Arabia is likely to propose a sizable increase at a June 22 meeting with consumers to lower prices. They are concerned that high prices will hurt the long-term interest of consumers. They also said that they would start pumping oil from Khursaniyah field! Maybe! Let's see if they can follow through.
Goodbye retail! Why sell gas when you can make money selling oil. Exxon Mobil Corp. said it's getting out of the retail gasoline business. That is right. Why deal with the struggling retail end when you make billions and billions on exploration and production?
Exxon said it now plans to sell to its distributors its remaining 820 company owned stations and another 1,400 outlets and will lease out the Exxon Name. So you still have the option of putting a tiger in your tank if you want to.
You don't have to be a tiger to trade with me! Just call and purr a bit and I will get you all set up. Also call for your free trial of www.alaronenergies.com and get on the Phil Flynn Energy Blast! Just email me at pflynn@alaron.com or call me at 800-935-6487. And if you need some purr-fect Business news you have to check out The Fox Business Network! If you don't get it you are no cool cat so order it today!
Sell July Crude at 140 stop 14200
Sell July RBOB at 360 stop 365
Buy July Heating Oil 36000 stop 355
Long July Natural gas apprx 1240 raise stop to 1245!!!!
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| Meet the Author |
Phil Flynn
Phil is one of the world’s leading energy market analysts, providing individual investors, professional traders and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline and energy markets.
Energy Report has contributed 388 issues.Our users give the newsletter an average rank of 8.4/10 (24 votes)
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