Outlook Bleak For Storing Of Heating Oil

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09/28/2000 - Thursday - Page A 60 SHORT CUTS Outlook Bleak For Storing Of Heating Oil

Compiled from wire reports.

AN AMERICAN Petroleum Institute report showed that U.S. refiners are making little headway in storing heating oil for the winter. Heating oil supplies are 36 percent below levels a year ago, the industry-funded institute said.

The Clinton administration's decision to release crude oil from the Strategic Petroleum Reserve was aimed at ensuring that refiners have enough on hand to make heating fuel for the winter. But the new report "brings home the fact that even if we tap the reserve, it isn't going to help with heating oil for a while," said Phil Flynn, senior market analyst at Alaron Trading Corp. in Chicago. Inventories are low, "and there is not much that anyone can do about it at this time."

http://www.newsday.com/coverage/current/business/thursday/nd3958.htm

-- Martin Thompson (mthom1927@aol.com), September 28, 2000


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