From: lorna.brennan@enron.com
To: courtney.barker@enron.com, w..mcgowan@enron.com, gabriel.chavez@enron.com, v.dickerson@enron.com, stephen.dowd@enron.com, eric.gadd@enron.com, elberg.gelin@enron.com, martin.gonzalez@enron.com, kevin.hyatt@enron.com, david.junus@enron.com, jebong.lee@enron.com, john.millar@enron.com, michael.ratner@enron.com, glen.hass@enron.com, michael.loeffler@enron.com, lon.stanton@enron.com, rob.wilson@enron.com, john.dushinske@enron.com, bill.fowler@enron.com, kent.miller@enron.com, dave.neubauer@enron.com, sue.neville@enron.com, jo.williams@enron.com, mike.barry@enron.com, vicki.berg@enron.com, sean.bolks@enron.com, joni.bollinger@enron.com, janet.bowers@enron.com, theresa.branney@enron.com, craig.buehler@enron.com, bob.burleson@enron.com, reyna.cabrera@enron.com, tom.halpin@enron.com, stephen.herber@enron.com, martha.janousek@enron.com, tim.johanson@enron.com, karen.lagerstrom@enron.com, laura.lantefield@enron.com, robert.mason@enron.com, penny.mccarran@enron.com, vernon.mercaldo@enron.com, frank.oldenhuis@enron.com, larry.pavlou@enron.com, loren.penkava@enron.com, john.pritchard@enron.com, richard.riehm@enron.com, preston.roobaert@enron.com, chris.sebesta@enron.com, frank.semin@enron.com, g..stage@enron.com, bob.stevens@enron.com, vincent.strohmeyer@enron.com, steve.thomas@enron.com, kay.threet@enron.com, lisa.valley@enron.com, steve.weller@enron.com, chuck.wilkinson@enron.com, allen.cohrs@enron.com, john.fiscus@enron.com, steve.gilbert@enron.com, dana.jones@enron.com, jane.joyce@enron.com, stephanie.korbelik@enron.com, don.powell@enron.com, ken.powers@enron.com, steven.harris@enron.com, lindy.donoho@enron.com, pallavi.goradia@enron.com, lorraine.lindberg@enron.com, tk.lohman@enron.com, michelle.lokay@enron.com, mark.mcconnell@enron.com, jan.moore@enron.com, kimberly.watson@enron.com, paul.y'barbo@enron.com
Date: 2001-11-19 14:59:51+00:00
Subject: FW: High Inventories and Weak Jet Demand Shape the Heating Oil
 Market - CERA Alert

Note:  Stocks of heating oil are very high for this winter, affecting the 
northeast and Florida markets' economics.  LB

-----Original Message-----
From: webmaster@cera.com [mailto:webmaster@cera.com]
Sent: Friday, November 16, 2001 9:01 PM
To: clients@cera.com
Subject: High Inventories and Weak Jet Demand Shape the Heating Oil
Market - CERA Alert 



Title: Atlantic Basin Heating Oil Markets Well Supplied Before Winter 	
URL(s):	

http://www.cera.com/eprofile?u=35&m=2800;


***********************************************************************

HIGH INVENTORIES AND WEAK JET DEMAND SHAPE THE HEATING OIL MARKET

Atlantic Basin heating oil markets are comfortably supplied in the lead-up to 
the winter 2001/02 heating season, and accordingly CERA expects much weaker 
distillate-to-crude price differentials than those of a year ago.

*  Primary distillate inventories in North America are well above those of a 
year ago, and German heating oil stocks are as much as 60 million barrels 
higher then last year.

*  Weakening jet fuel demand effectively increases availability of refinery 
distillate supply capability.

*  Distillate consumption in switchable applications in North America will be 
much lower than they were last year, when a very tight natural gas market 
boosted distillate demand.


**end**

Follow above URL for complete Alert (3 printed pages).

E-mail Category: Alert                                             
CERA Knowledge Area(s): Global Oil


***********************************************************************
**************************************************************************************
CERAWeek February 11-15, 2002 - http://www.cera.com/ceraweek 

SPECIAL OFFER: Register on-line before November 30th, and a 2-Day Pass 
will be upgraded to a 4-Day Pass (maximum $1,800 value). 
Day 1: Global Oil/Refined Products;  
Day 2: Natural Gas/Global Energy;  
Day 3 & 4: Electric Power
**************************************************************************************



To make changes to your cera.com profile go to:
http://www.cera.com/client/updateaccount

Forgot your username and password? Go to:
http://www.cera.com/client/forgot

This electronic message and attachments, if any, contain information 
from Cambridge Energy Research Associates, Inc. (CERA) which is 
confidential and may be privileged. Unauthorized disclosure, copying, 
distribution or use of the contents of this message or any attachments, 
in whole or in part, is strictly prohibited.
Terms of Use: http://www.cera.com/tos
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates