Message-ID: <23376550.1075856334052.JavaMail.evans@thyme>
Date: Wed, 19 Jul 2000 11:53:00 -0700 (PDT)
From: vince.kaminski@enron.com
To: mike.roberts@enron.com
Subject: Monthly Briefing: Refined Products Line - CERA Alert
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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/19/2000=
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06:48 PM ---------------------------


webmaster@cera.com on 07/14/2000 10:21:29 PM
To: vince.j.kaminski@enron.com
cc: =20
Subject: Monthly Briefing: Refined Products Line - CERA Alert




**********************************************************************
CERA Alert: Sent Fri, July 14, 2000
**********************************************************************

Title: Monthly Briefing: Refined Products Line
Author: Refined Products Team
E-Mail Category: Alert
Product Line: Refined Products ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=3D5166&m=3D1273 ,

Although demand currently lags last year's level, gasoline margins remain=
=20
exceptionally strong owing in large part to the tight supply situation;=20
gasoline price differentials gained $0.46 per barrel during June, rising to=
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$8.58 per barrel over WTI. Distillate market fundamentals remain very stron=
g=20
and CERA expects margins to continue strengthening through the third quarte=
r.=20
High natural gas prices have raised the ceiling on low-sulfur residual fuel=
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prices, so that 1% sulfur residual fuel differentials below WTI have narrow=
ed=20
from the $7.00=01)$8.00 per barrel range of the first quarter to $4.18 per=
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barrel during June.

**end**

Follow URL for complete Monthly Briefing.
Note: Should the above URL not work, please use the following:=20
http://www.cera.com/client/rp/alt/071400_18/rp_alt_071400_18_ab.html



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